Vista Outdoor Inc. (“Vista Outdoor”) (NYSE: VSTO), the parent company of 39 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, today announced that it has entered into a definitive agreement to acquire Irvine, Calif.-based Fox Racing, a global icon in performance motocross, mountain bike and lifestyle gear for adventure seekers. The purchase price is $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance.
For 50 years, Fox Racing has been a leading voice in the motocross and adventure community, with a dedicated consumer following and talented group of employees that embody the brand’s mission to “honor yesterday, conquer today, and invent tomorrow.” Fox Racing’s deep history of producing innovative gear that enables racers and explorers to reach new heights aligns perfectly with Vista Outdoor’s existing portfolio of leading outdoor brands. Fox Racing grew net sales by a compound annual growth rate of approximately 20% from calendar year 2019 to 2021 and is expected to grow in excess of that in calendar year 2022.