Guests - If You want access to member only forums on FM. You will gain access only when you Sign-in or Sign-Up on Fishing Minnesota.

It's easy - LOOK UPPER right menu.

Sign in to follow this  
Followers 0
delmuts

Pure fishing sold

22 posts in this topic

i just saw that pure fishing has sold its' bussiness. hope they don't make much for changes!

Share this post


Link to post
Share on other sites

I sure hope no changes are made......its hard to go wrong with berkley, fenwich, abu garcia, stren, mitchell reels, and spiderwire!

Share this post


Link to post
Share on other sites

No kidding who bought em up. I see they were an Iowian company, I hope they stay in the U.S.

Share this post


Link to post
Share on other sites

Ya, who bought Pure Fishing? Anybody? Anybody????

confused.gif

Share this post


Link to post
Share on other sites

It was bought by Jarden Corp(Coleman outdoor products., for about 400 mill.)

Share this post


Link to post
Share on other sites

The Jarden Corp. today announced that it has acquired Pure Fishing and its brands that include Abu Garcia, Berkley, Mitchell, Stren, Trilene, and Gulp!.

Jarden Corp. also owns the Coleman Co., which yesterday signed a sponsorship agreement with FLW Outdoors. That agreement fueled speculation that it or its parent company (Jarden) might be looking to expand in the fishing market (see "Coleman and fishing" below). Pure Fishing is also an FLW Outdoors sponsor.

The news isn't a total surprise, since Pure Fishing underwent a recapitalization in 2003, the purpose of which many believed was to grow and then sell the company.

What effect the sale will have on current Pure Fishing sponsorships of leagues and pros isn't known at this time.

Along with Coleman and now Pure Fishing, Jarden owns many other consumer brands including Ball, Hoyle, FoodSaver, Mr. Coffee, Oster, and others.

According to a press release, Pure Fishing had 2006 revenue in excess of $250 million. Detailed terms of the transaction were not disclosed, but the purchase price consisted of $300 million in cash, a $100 million 5-year note with a 2% coupon, and warrants exercisable into Jarden common stock with a strike price of $45.32.

In addition to the upfront purchase price, a contingent purchase price payment based on the future financial performance of the acquired business may be paid.

The press release also said: "The Pure Fishing acquisition is consistent with the company's stated strategy of purchasing leading, niche consumer-oriented brands with attractive cash flows and strong management. Pure Fishing will be joining The Coleman Company, Inc. as part of the company's Outdoor Solutions segment and is an accretive acquisition before synergies."

Jarden chairman and CEO Martin E. Franklin said: "Pure Fishing is an excellent fit for Jarden and our Outdoor Solutions segment. We believe there are significant opportunities for future growth in the recreational fishing category, as well as cross-selling, channel expansion and geographical expansion opportunities with both our Coleman and Campingaz brands. As an established leader and an innovator in the specialty, sporting goods and mass channels for a number of decades, we believe Pure Fishing is well positioned to continue its growth and strong financial performance under Jarden and we welcome the entire Pure Fishing team to our company."

Franklin added: "We strategically raised capital in the 4th quarter of 2006 and opportunistically did so again earlier this year. With this transaction we're beginning to put the capital raised to good use as we continue to look for opportunities to increase shareholder value. We look forward to discussing our 1st quarter results with investors later this month and discussing the transaction in more detail at that time."

Gary A. Kiedaisch, Jarden Outdoor Solutions president, commented: "The strength of Pure Fishing's brands in combination with Coleman's vast product line provides us with an exceptional platform for the future growth of our Outdoor Solutions business. Leveraging the strengths of the Jarden, Coleman and Pure Fishing domestic and international operations will help us drive top-line growth, expand new product and brand offerings, while creating synergies and a greater level of innovation, responsiveness and service to retailers and consumers."

Pure Fishing chairman Tom Bedell, whose father founded the company, said: "We are proud of the business that we've built and believe that Jarden is the right company to take the business to the next level. Jarden's expertise in growing leading brands and access to capital will build upon the expertise and innovation we have at Pure Fishing. We also are extremely proud to partner with Coleman under the banner of Jarden Outdoor Solutions."

Share this post


Link to post
Share on other sites

Pure Fishing Purchased By Parent Company Of Coleman Outdoor Products

(Spirit Lake)-- One of Dickinson county's largest employers has been sold in a 400 million dollar cash transaction.

Jarden Outdoor Solutions Group announced this (Tuesday) afternoon it's purchased Spirit Lake-based Pure Fishing.

Tom Bedell, interim President of Pure Fishing, and Gary Kiedaisch, President of Jarden Outdoor Solutions, made the announcement at a joint press conference. Bedell says they've been in talks since last February and consumated the deal last Friday.

Bedell and Kiedaisch said no major changes will be made in Pure Fishing's operations as a result of the announcement. They said Pure Fishing's headquarters will remain in Spirit Lake and that it will be business as usual for the company.

Kiedaisch said putting Pure Fishing under the Jarden Outdoor Solutions umbrella, the parent company of Coleman Outdoor Products, is a natural and will be a win-win for everyone involved in the transaction. Combined, Kiedaisch said the two companies will have just under 1.2 billion dollars in revenue.

Kiedaisch says for what Pure Fishing could buy products for and what it could negotiate service contracts for was on a much smaller platform than what they do at Coleman. He says the Jarden company, with just under four billion dollars in annual revenue, adds even more synergy to the deal. Kiedaisch pledged to keep Pure Fishing operating as a separate company, with it's own independent President and headquarters in Spirit Lake. Bedell will continue to serve as Pure Fishing's President on an interim basis.

Kiedaisch added the acquisition of Pure Fishing will also give it access to capital for any future expansion possibility.

Pure Fishing employs about 450 people full-time at its Spirit Lake headquarters, along with some temporary help. The company operates in 19 other locations worldwide.

Share this post


Link to post
Share on other sites

Quote:

Bedell and Kiedaisch said no major changes will be made in Pure Fishing's operations as a result of the announcement. They said Pure Fishing's headquarters will remain in Spirit Lake and that it will be business as usual for the company.


YAY!!!

Share this post


Link to post
Share on other sites

Phew!

Yep - it's true.

Share this post


Link to post
Share on other sites

no kidding! i need to order some more power minnows. thanks RW !

Share this post


Link to post
Share on other sites

As long as they dont change anything ill be happy. I love there products cool.gif

Share this post


Link to post
Share on other sites

Quote:

As long as they dont change anything ill be happy. I love there products
cool.gif


Ditto!

Share this post


Link to post
Share on other sites

If it is true that there is a new sponsorship agreement with the FLW and if it is true that the FLW has banned GULP from tournament competition which is the story going around, how does this work itself out?

Daze Off

Share this post


Link to post
Share on other sites

I hadnt heard anything aboot the FLW banning Gulp, they had banned Foodsource lures, which is similar to Gulp.

Share this post


Link to post
Share on other sites

Well it makes sense because FLW, Walmart, Pure Fishing are all tied together. AND if you look at who is direct competition with GULP this would only be Food Source. Plus isn't Food Source claim that there product is 100% fish ingredients and oils??? They see it as "bait" which isn't allowed in bass tournements, right??? Something to think about.

mr confused.gif

Share this post


Link to post
Share on other sites

Not sure what everyone's excited about. I don't remember one buy-out that has benefited the consumer. Hope I'm wrong though.

Share this post


Link to post
Share on other sites

Quote:

Not sure what everyone's excited about. I don't remember one buy-out that has benefited the consumer. Hope I'm wrong though.


Unfortunetly my gut tells me that some of there product will make it over-sea's.

Share this post


Link to post
Share on other sites

Very few buyouts are good for the consumers or employees.Most companys are purchased to increase market share and elimate competiton usually resulting in higher product prices and less

jobs within the company over time.Burl.

Share this post


Link to post
Share on other sites

This is different than the scenario you're painting. You should consider that Jarden did not have a fishing tackle company before the purchase, so Pure Fishing becomes their fishing arm.

This should be a beneficial buyout by all accounts. I do see this benefiting the consumer, but time will tell.

Share this post


Link to post
Share on other sites

Time will tell, you know it. I hope you are right - I spend a big chunk of my wedded-bliss tackle allowance on their stuff... Gulp, Powerbait, Fireline, Trilene, Vanish, Frenzy, Lightning Rods, Cherrywood rods...

But I have to take the pessimist side - as someone else said, corporate takeovers and buyouts do one thing reliably - reduce product quality, raise prices, and kill customer service. It doesn't matter what the local intentions are, no management can sheild a business unit from what corporate HQ wants to do. And with Coleman, it is all about globalization, cheap products, big mark-up, and dominance = higher share price.

Share this post


Link to post
Share on other sites

i have to disagree here, when Pure Fishing bought Stren from Dupont there fishing line became much better, in addition Pure Fishing poured money into developing new lines for Stren i.e. Stren SuperBraid in cooperation with Joe Bucher. Some buy out benifit us. I dont intented to be a jerk or start a fight so please dont take it as that i just want us to remember that some times new management can fuel productivity. smile.gif Jonah

Share this post


Link to post
Share on other sites

Your not fighting, you are debating your point - thank God we live in America! So, the debate continues... :-) I'll believe this is a good takeover when I see it.

Pure Fishing buying Stren was a much different transaction than Jarden buying Pure Fishing:

An Iowa-based, privately-held fishing equipment concern doing business in the US, Northern Europe, and Taiwan (select and friendly commerce centers) buying an unwanted fishing line company (brothers in arms, both have passion for fishing) from another American outdoors company (Remington)

VS.

Jarden, a globalized and publicly-traded company that makes fire safety equipment, twine, playing cards, coffee makers, and camping gear, and... - Oh, and now they make fishing gear! The Jarden bedfellow WalMart doesn't inspire visions of quality, either.

Sorry if my negativity is too much, but this deal just doesn't have the makings of success for the finicky North American outdoorsman. Who would really want the success or failure of Mr. Coffee and Bee Playing Cards to potentially impact business decisions for Berkley tackle? They are all now part of a single portfolio being managed for profit, jumping when WalMart says "jump!"... Too cynical? Perhaps, but not far from the truth. It's hard to be optimistic about this!

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  
Followers 0



  • Posts

    • SkunkedAgain
      As far as I'm aware, the two main spawning spots are the Pike River on the east end and Black Lake on the west end. That said I think that walleye are probably spawning in many different areas around the lake. IMO it's kind of fun to look for those hidden gem areas.
    • Rick
      Information about chronic wasting disease and the Minnesota Department of Natural Resources’ management response to its discovery in two deer near Lanesboro will be the focus of a public meeting from 7-8:30 p.m. on Thursday, Dec. 15, at the Fillmore Central School Auditorium, 702 Chatfield St., in Preston.  DNR staff will explain the disease and why a quick and aggressive response is the most effective way to limit its spread. They also will discuss response measures including establishment of a disease management zone, a special winter deer hunt, landowner shooting permits and the necessity to conduct an aerial deer population survey. Representatives from other state agencies and deer hunting groups also will be available to answer questions. Chronic wasting disease is a fatal brain disease to deer, elk and moose but is not known to affect human health. Prior to this discovery, the disease has only been found in Minnesota in one wild deer harvested near Pine Island in 2010. For more information, including maps of chronic wasting disease surveillance areas, common questions and answers and hunter information, visit the DNR’s CWD homepage. Discuss below - to view set the hook here.
    • Fumb Disher
      Looks like by next wendsday.  Below 0 and single digit highs. 
    • RuddyDuck
      Let the cold begin! Though, now I am seeing snow in the forecast for Sat evening and Sunday. Boy, hopefully that misses. 
    • Xplorer
      With the high wind's this week I really dont see much ice forming until at least the weekend.  Looking like I will be planning on hauling the ATV or sled up for the trip between Xmas and New Years again this year.