I have full confidence that with the best team in the ammunition business, we will continue to perform at the highest level. We look forward to working towards closing the sale to CSG in the calendar year 2024. Thank you. Eric.
Eric Nyman: Thanks Jason and good morning everyone. During my first 10 weeks, I have visited multiple Revelyst locations on a look, listen and learn tour. I had the chance to meet and hear from a large number of our employees who were eager to share their pride and excitement about the future of our company. I left feeling energized as I saw a tremendous amount of potential and a lot to be excited about at this company, which we have recently named Revelyst. At Revelyst, we are a collective of category defining maker brands, transcending the boundaries of precision, performance, and protection. We exist to inspire and equip the ambitious to achieve their greatest experiences in the places they love. We are excited for you all to join us in our pursuit to redefine, what is humanly possible, outdoors.
As I mentioned, I was thrilled to meet so many of the proud and talented employees we have to lead us into the future. As previously announced, Andy Keegan, currently Vice President and Interim CFO of Vista Outdoor plans to join Revelyst as CFO. Andy’s work as Interim CFO has given me and the board high confidence in his ability to serve in this position. In addition, we announced the hiring of our General Counsel, Jung Choi. Jung has over 15 years of diverse legal experience and expertise, most recently serving as the General Counsel and Corporate Secretary for Boxed, a publicly traded e-commerce grocery platform. I am eager to partner with Andy, Jung and the rest of the leadership team in leading Revelyst during this transformational period in our company’s history and support the work that we are doing to advance our mission of creating the best and largest house of outdoor brands.
As I was able to reflect on what I saw and learned from my tour, a few things became very clear to me. First, we have one of the most passionate workforces in the industry. Second, a big part of the reason for their passion is that our company is comprised of a collection of many of the world’s most iconic outdoor brands. Third, what I observed and heard in several ways from our team was that these powerful brands and assets have not yet been harnessed and elevated to achieve their true potential. Our fully formed strategy for Revelyst will evolve and expand over the coming months, a few key pillars of that game plan are already clear, and we will act on them with urgency. As such, we are kicking off a new program today called GEAR Up inspired by our future stock ticker GEAR.
This transformation program will focus on three elements. Those elements are simplifying the business model, delivering increased efficiency and profitability from that simplified structure and reinvesting in our highest potential brands to accelerate their growth and transformation. In the current structure, the business has become increasingly complex over time with multiple acquisition causing brands to become independent of one another and creating inefficiencies across the entire company. Through a simplified structure Revelyst can become an integrated house of iconic, high performing outdoor brands that work together as one cohesive unit to form a globally branded company. We will leverage shared learnings and centers of empowerment across the company to drive efficiency through strong execution, while embarking on a global omni channel growth strategy that marries our imagination with innovation to create products that unlock wildly human experiences.
Our first action toward achieving our goal of simplification within the GEAR Up initiative is to reorganize the business, to create three distinct platforms and drive success. The platforms will be; one, precision sports and technology which will consist of Foresight Sports and Bushnell Golf, our highest EBITDA margin and highest growth potential business, Which will be led by Jon Watters and Scott Werbelow, Co-Presidents of Precision Sports and Technology. Two, Adventure Sports, which will be comprised of Fox, Bell, Giro, CamelBak, QuietKat, and more. Our largest segment with the most well renowned brands, which will be led by eff McGuane, President of Adventure Sports and three, Outdoor Performance which will include Bushnell, Primos, Simms, Camp Chef, Stone Glacier and more, a group with market leadership in hiking, camping, fishing, and hunting.
In addition, with our Blackhawk brand, we also serve our Military First Responders and law enforcement professionals around the world with pride. This group will be led by Jordan Judd, President of Outdoor Performance. This simplified structure will allow us to kick off a significant efficiency program within the GEAR Up framework that is being actioned immediately. We expect that this effort will streamline our operations and unlock profitability improvements and cost savings beginning in Q4 fiscal year 2024, with an estimated $100 million of realized annual cost savings by fiscal year 2027.These net savings are in addition to the $50 million cost restructuring program announced in April 2023 with about $25 million of those early savings specifically related to Revelyst for a total of $125 million in cost improvements, on a run rate basis.
Enabled by a simplified structure and powered by a recently signed deal with a leading consulting partner, this new initiative will maximize efficiency through consolidation of our current real estate footprint as well as within our back office technology stack, supply chain, and organizational structure. In the next several weeks and months, we will start our investor road shows, attend conferences, and host an Investor Day in the Spring of 2024 to provide more details on our strategic plan. We are taking decisive action at this time to position us well ahead of the separation and set us up for a strong start to fiscal year 2025.As reflected in our guidance, we are working hard to clear high-priced inventory to ensure that our products are front and center with our channel partners during the holiday season.
