The Czechoslovak Group (CSG) reiterated its intention to pay $1.91 billion for numerous U.S. ammunition makers, noting it has secured finances through U.S.-based JP Morgan Chase.
CSG intends to purchase Vista Outdoors Sporting Products, an umbrella company that includes Remington, Federal, and CCI ammunition brands, among others.
On April 8, Business Wire reported that CSG reiterated its intentions.
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Business Wire quoted a statement from CSG:
CSG is a leading industrial technology company operating across strategic business segments including defense, aerospace, ammunition and mobility. Under the leadership of current CEO and 100% owner Michal Strnad, CSG has become the pre-eminent Czech industrial group and built an extensive global footprint.
We have a demonstrated history of supporting the long-term growth of our portfolio companies. We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington. As we have publicly stated, we intend to keep in place The Kinetic Group’s existing leadership, invest in the business and continue production in the U.S.
Additionally, we would note that we have continued to invest in the U.S. facilities we already own in Arkansas and Missouri and have increased output at those plants – allowing us to provide even more supply to our American customers.
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On April 11, on Newsmax TV host Eric Bolling noted that numerous police departments and law enforcement agencies have rules against buying ammunition from foreign ammunition companies. He expressed concerns over the possibility of our military being forced to acquire ammunition or being dependent on ammunition from a foreign-owned company.
Bolling also noted the problem private Americans may face due to jumps in cost, should CSG acquire the renowned American ammunition makers.
On January 24, Breitbart News noted that Sen. J.D. Vance launched a fight to prevent the sale. Vance voiced concerns about links between CSG and the Kremlin, and asked the Committee on Foreign Investment to block the sale.
AWR Hawkins is an award-winning Second Amendment columnist for Breitbart News and the writer/curator of Down Range with AWR Hawkins, a weekly newsletter focused on all things Second Amendment, also for Breitbart News. He is the political analyst for Armed American Radio, and a pro-staffer for Pulsar Night Vision. He was a Visiting Fellow at the Russell Kirk Center for Cultural Renewal in 2010 and holds a Ph.D. in Military History, with a focus on the Vietnam War (brown water navy), U.S. Navy since Inception, the Civil War, and Early Modern Europe. Beef is his favorite vegetable. Follow him on Instagram: @awr_hawkins. You can sign up to get Down Range at breitbart.com/downrange. Reach him directly at awrhawkins@breitbart.com.