Conservation funding has been a consistent piece of Vista Outdoor’s conservation legacy.
ANOKA, Minn. — Vista Outdoor Inc. (NYSE: VSTO), the parent company of 39 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, is pleased to announce that the company’s performance was a key driver in helping the U.S. Fish and Wildlife Service provide a record $1.5 billion in annual funding through the Wildlife and Sport Fish Restoration (WSFR) Program. This funding will support state and local outdoor recreational opportunities, and wildlife and habitat conservation efforts.
The WSFR Program apportions excise taxes on hunting, shooting and fishing equipment, and boat fuel to all 50 states and U.S. territories. Over the past five years, Vista Outdoor has paid nearly $400 million of Pittman-Robertson Federal Aid in Wildlife Restoration program taxes to support conservation and is one of its most vocal and active supporters.
“Conservation funding has been a consistent piece of Vista Outdoor’s conservation legacy,” said Chris Metz, CEO, Vista Outdoor. “Vista Outdoor and our sporting products brands are at the forefront of the industry, creating innovative products that drive demand and get more people outside. We are equally pleased to see Remington up and running again. The ramp-up of production at Remington is supporting the overall increase in conservation funding, and we are proud to bring back Big Green! Conservation funding is equally important to meet the nationwide surge in outdoor recreation we have seen over the past two years.”
Vista Outdoor’s contributions to habitat and wildlife conservation date back nearly a century. For example, the firearms and ammunition industry came together in 1937 to create the Pittman-Robertson Federal Aid in Wildlife Restoration program. This bipartisan legislation was intended to turn the tide on wildlife degradation by creating a “user-pays” system where hunters and enthusiasts lead the way in funding habitat and wildlife conservation. Since that time, the hunting community has paid more than $11 billion into Pittman-Robertson, preserving millions of acres of habitat and recovering countless herds and species of wildlife.
Congress authorizes the WSFR disbursements through the Pittman-Robertson Federal Aid in Wildlife Restoration Act and Dingell-Johnson/Wallop-Breaux Federal Aid in Sport Fish Restoration Act. To date, the Service has distributed more than $25.5 billion in apportionments for state conservation and recreation projects. The recipient state wildlife agencies have matched these funds with approximately $8.5 billion throughout the years, primarily through hunting and fishing license revenues.
The impact of Vista Outdoor’s outsized contributions to the WSFR Program, however, goes well beyond the immediate financial benefit to ongoing conservation efforts. When brands in the company’s sporting products segment perform well, it helps fuel participation across all outdoor activities since many recipients of WSFR funding are designed to get more people outside.
Moreover, it means the company is well-positioned for upholding a key pillar of our Value Creation Strategy — to make prudent acquisitions of fast-growing outdoor brands and remain the acquirer of choice for the outdoor industry. Without a doubt, the success of our sporting products segment has enabled Vista Outdoor to pursue fast-growing, outdoor-focused brands like e-bike maker QuietKat and backcountry hunting apparel and gear brand Stone Glacier. The company’s success is now helping those brands scale their operations and welcome new participants, which will, in turn, allow us to execute more acquisitions in this space.
These are further examples of the virtuous cycle that Vista Outdoor has perfected — and more ways to show the world that “outside is our best side.”
More information about this latest round of funding can be found on WSFR’s website, www.fws.gov/wsfrprograms.
About Vista Outdoor Inc.
Vista Outdoor is the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products. We serve a broad and diverse range of consumers around the globe, including outdoor enthusiasts, golfers, cyclists, backyard grillers, campers, hunters, recreational shooters, athletes, as well as law enforcement and military professionals. Our reporting segments, Outdoor Products and Sporting Products, provide these consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. Our operating model leverages shared resources across brands to achieve levels of excellence and performance that would be out of reach for any one brand on its own. Brands include Remington Ammunition, Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fiber Energy Products, Bell Helmets, Camp Chef, Giro, QuietKat, Stone Glacier, Federal Ammunition and more. Vista Outdoor products are sold at leading retailers and distributors across North America and worldwide. For news and information, visit our website at www.vistaoutdoor.com.