Speculation abounds as Wall Street analysts keep an eye on Pure Fishing owner Newell Brands. In late January, a founder of former Pure Fishing parent company Jarden Corp., Martin Franklin attempted to wrest control of Newell’s board of directors after a more than 20 percent drop in the company’s stock. The drop came after Newell announced plans to sell several iconic brands under its massive 54,000 employee umbrella, including Rawlings, Rubbermaid and Goody hair products. A St. Louis Dispatch report expects Rawlings to fetch around $360 million, while the other brands could garner price tags in the billions.
Newell Brands has owned Pure Fishing since 2015, when an $18 billion deal with Jarden Corp. was made for the overseer of iconic fishing brands like Shakespeare, Berkley, PENN, Abu Garcia and more.
While the rumor mill doesn’t appear red-hot for a Pure Fishing sale (we’d rate it at a 4/10), the impact of these brands on the fishing industry warrants keeping a close eye on Newell.
Who could buy Pure Fishing?
The list of fishing companies that could buy Pure Fishing or some of its companies is short. Normark/Rapala, Shimano, Peak Rock Equity, PRADCO, Bass Pro Shops, and Zebco/Quantum would certainly all qualify. Asked whether they’d have interest in Pure Fishing’s portfolio, an anonymous Zebco/Quantum representative told FTR, “Sure. There are a few brands that are very complimentary to ours and others that take us to categories we currently do not play in.”
Franklin walked out of the Newell Brands board of directors meeting and resigned, but he didn’t act alone. Franklin took along former Jarden executive and fellow Newell director Ian Ashken. Together, the two hold the keys to a new $1.25 billion acquisition vehicle, J2 Acquisition Ltd., that has yet to formalize any plans.
Franklin was reportedly upset with the strategic direction of Newell after the company fell short of financial forecasts following its acquisition of Jarden.
(as reported in Fishing Tackle Retailer)