From Pure Fishing:
Pure Fishing Inc., the world’s largest fishing tackle company, today announced that it has entered into a definitive agreement to purchase Plano Synergy Holdings Inc. The purchase will include Plano Synergy’s 15 preeminent brands, which specialize in tackle storage, catch management, hunting accessories and archery. This acquisition is the third for Pure Fishing in two years under the ownership of private equity firm Sycamore Partners.
“We are excited to welcome the iconic Plano and other brands into our industry-leading portfolio of Outdoor brands. These are storied brands within the fishing and hunting space that are beloved by outdoor enthusiasts worldwide and will perfectly complement our existing business,” said Pure Fishing CEO Harlan Kent.
The acquisition of these brands demonstrates Pure Fishing’s continued commitment to growing its presence within the outdoor sports industry while remaining a positive and compelling partner to its retail customers. To maximize global expansion opportunities and additional growth prospects within its Outdoor categories, Pure Fishing will continue to focus on ensuring supply chain excellence, delivering innovation, driving digital marketing and strengthening vendor partnerships.
“Plano Synergy did not become the undisputed leader in storage solutions for anglers and hunters, nor did its hunting brands become the leader in performance solutions, without the hard work of an extremely talented team,” Kent said. “The team has a proven record of success, and we look forward to welcoming them to the Pure Fishing family and building an even stronger company together.”
Terms of the purchase, which is expected to close in April, are not disclosed.
About Pure Fishing
Pure Fishing, Inc. is the leading global provider of fishing tackle, lures, rods and reels with a portfolio of brands that includes Abu Garcia®, All Star®, Berkley®, Fenwick®, Fin-Nor®, Greys®, Hardy®, Hodgman®, Hooker, Johnson®, JRC®, Mitchell®, PENN®, Pflueger®, Sebile®, Shakespeare®, SpiderWire®, Stren®, Ugly Stik®, and Van Staal®.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners’ investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com