ANOKA, Minn.--(BUSINESS WIRE)--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.
