Revelyst Announces Sale of Fiber Energy Products
2024年7月10日 - 8:00PM
ビジネスワイヤ(英語)
The company has sold the wood pellet manufacturer to Lignetics,
Inc.
Revelyst, a collective of world-class maker brands that design
and manufacture performance gear and precision technologies and a
segment of Vista Outdoor Inc. (NYSE: VSTO), today announced the
sale of the assets of Fiber Energy Products, the company’s wood
pellet manufacturer, to Lignetics, Inc.
Fiber Energy began producing 100 percent all-natural wood pellet
fuel in 2006. Over time, Fiber Energy has become a manufacturer of
BBQ and grilling pellets and premium hardwood and softwood heating
pellets throughout the midwestern and southern United States. The
sale of Fiber Energy is integral to Revelyst’s ongoing GEAR Up
transformation. The strategic divestiture allows Revelyst to
rebalance its portfolio and focus on its highest-value brands and
most profitable segments to drive future growth.
“Lignetics is the right partner at the right time for Fiber
Energy,” said Jordan Judd, President of Revelyst Outdoor
Performance. “Lignetics’ ownership of Fiber Energy will provide the
resources and scale that will enable Fiber Energy to reach its full
potential, while the sale generates cash for Revelyst that can be
reinvested in our power brands and product innovation in support of
our GEAR Up growth initiative.”
Baird served as exclusive financial adviser and Reed Smith LLP
served as legal adviser to Revelyst on this transaction.
About Fiber Energy Products
Fiber Energy Products is a state-of-the-art wood pellet
manufacturing facility located in the pristine forests of northern
Arkansas. The company also has a second facility located in
beautiful southern Missouri. Their facilities first began producing
100% all-natural wood pellet fuel in 2006. Since then, they have
become the foremost manufacturer of premium hardwood and softwood
heating pellets, BBQ and grilling pellets, and animal bedding
throughout the midwestern and southern United States.
About Lignetics
Lignetics, headquartered in Broomfield, Colorado, is the largest
residential wood pellet manufacturing company in the U.S. The
company’s innovative eco-friendly offering includes premium wood
pellets for super-efficient home heating, barbecue pellets that
naturally seal in perfect wood-fired flavor, and a superior
all-natural high-performance cat litter. Lignetics delivers these
innovative all-natural products through national retail partners
and directly to consumers via a national network of wood pellet
manufacturing plants spread across the U.S. and Canada with 27
different plant locations. For more information on Lignetics and
all of its products, visit www.lignetics.com.
About Revelyst
Revelyst, a segment of Vista Outdoor Inc. (NYSE: VSTO), is a
collective of world-class maker brands that design and manufacture
performance gear and precision technologies. Our category-defining
brands leverage meticulous craftsmanship and cross-collaboration to
pursue new innovations that redefine what is humanly possible in
the outdoors. Portfolio brands include Foresight Sports, Bushnell
Golf, Fox, Bell, Giro, CamelBak, Bushnell, Simms Fishing and more.
For more information, visit our website at www.revelyst.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240710753238/en/
Lignetics Media Contact: Citrus Public Relations Kelly
Leathers Phone: 303-909-5716 Email: kelly.nelson@me.com Revelyst
Media Contact: Eric Smith Phone: 720-772-0877 Email:
media.relations@revelyst.com Revelyst Investor Contact:
Tyler Lindwall Phone: 612-704-0147 Email:
investor.relations@vistaoutdoor.com
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