Anoka-based Vista Outdoor to buy Simms Fishing Products for $192.5M
FILE - This Jan. 22, 2020, file photo shows the likeness of Benjamin Franklin on $100 bills in Dallas. (AP Photo/LM Otero, File)
A Minnesota-based business is about to expand.
Vista Outdoor has announced its plans to buy Montana-based Simms Fishing Products for more than $192.5 million. Simms, which specializes in fishing gear and apparel, was founded in 1980 before being acquired by K.C. Walsh in 1993, according to a news release announcing the sale.
Anoka-based Vista Outdoor’s purchase still needs to be reviewed for customary closing adjustments, and the purchase is expected to be completed during the second fiscal quarter of the 2023 fiscal year.
According to Wednesday’s release, Simms is expected to anchor a new platform in the fishing category within Vista Outdoor’s portfolio for outdoor products.
Earlier this year, Vista Outdoor announced it was separating its outdoor products and sporting products into two independent, publicly-traded companies. At that time, the separation was expected to be finished during the 2023 calendar year, pending approval.
Vista Outdoor’s website states it is the parent company of more than 36 brands that design, create and market both sporting and outdoor products.