Lignetics buys wood-pellets business from outdoor-brands umbrella firm Revelyst
LOUISVILLE — Lignetics Inc. recently acquired the Fiber Energy Products wood pellets business unit from Revelyst, an umbrella company owned by Vista Outdoor Inc. (NYSE: VSTO) that controls outdoor-gear brands such as Camelbak, Bell and Fox.
Louisville-based and private equity-backed Lignetics uses wood waste to make pellets for use in home heating, for barbecues and to make cat litter and horse bedding. It sells at retailers under a dozen brands including Green Supreme, Bear Mountain BBQ, Catalyst Pet and EZ Equine.
“Fiber Energy began producing 100% all-natural wood pellet fuel in 2006. Over time, Fiber Energy has become a manufacturer of BBQ and grilling pellets and premium hardwood and softwood heating pellets throughout the midwestern and southern United States,” a Revelyst news release said. “The sale of Fiber Energy is integral to Revelyst’s ongoing Gear Up transformation. The strategic divestiture allows Revelyst to rebalance its portfolio and focus on its highest-value brands and most profitable segments to drive future growth.”
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Terms of the acquisition were not disclosed.