The Committee on Foreign Investment in the United States has given the green light to the proposed acquisition of Vista Outdoor’s varied and iconic ammunition brands to the Czechoslovak Group. 

In a release from Vista on Wednesday, the company announced it had received written notice from CFIUS that the federal regulator has concluded its review and investigation of the proposed transaction "and has determined that there are no unresolved national security concerns." The clearance by CFIUS was the final governmental regulatory approval required for the deal to proceed. U.S. Federal Trade Commission had previously cleared the acquisition from an antitrust perspective. 

"The CFIUS process involved a thorough review and investigation of the Transaction by numerous U.S. Government departments and agencies with a range of national security and other mandates," said Michael Callahan, Vista's chairman of the board of directors. "We believe the end result supports our view that CSG – which has deep expertise in supply chain excellence and ammunition manufacturing and strong support for NATO and allied nations – will be an excellent owner of The Kinetic Group [the company's name for is ammo lines]. CSG is fully committed to supporting our American workforce, American hunters and domestic and allied military and law enforcement partners."

Vista, whose well-known ammo brands include CCI, Federal, Hevi, Remington, and Speer, tentatively agreed last October to accept the all-cash deal from the Prague-based holding company that owns several Czech military armament firms as well as a majority stake in Fiocchi Ammunition and Perazzi shotguns. Since then, the American company has eschewed offers from the Colt CZ Group and Montreal-based MNC Capital, electing to move forward with the original offer from CSG. 

Vista, which currently trades on the NYSE under VSTO, has since moved to split its ammunition brands into what it has named The Kinetic Group, which it plans to sell to CSG, and its spin-off of its 40 assorted sporting and outdoor product brands – Fox, Bell, CamelBak, Bushnell, Hoppe's, Tasco, Uncle Mikes, Gun Mate, Simmons, Weaver, Butler Creek, Outers, Blackhawk, and RCBS –  into a standalone public company named Revelyst, which will trade on the New York Stock Exchange under the ticker "GEAR." Vista has a Form S-4 effective with the U.S. Securities and Exchange Commission for Revelyst.

All that's left would be the approval of Vista Outdoor’s stockholders – with a special meeting scheduled to vote on the agreement on July 2 – and other customary closing conditions. That is, unless Department of Justice attorneys move for an injunction on anti-trust grounds, as the sale could leave Winchester as the largest American-owned ammo company – and one of the few with primer production in-house.