Vista Outdoor Inc sells its eyewear brands

Vista Outdoor Inc has announced a deal to sell its Bolle, Cebe and Serengeti eyewear brands to a European private equity fund for approximately $158 million (£119,226,800).

This is part of the company’s plan to focus on its shooting, ammunition and hunting categories.

Chris Metz, chief executive, said: ‘This divestiture is the first step in our transformation plan and will be the first of several potential asset sales that will significantly reduce Vista Outdoor's leverage and provide additional resources to for us to reinvest in our core businesses.’