Newell Brands has today announced that it has agreed the sale of Pure Fishing to a New York-based private equity group in a deal that is worth $1.3 billion.
Sycamore Partners is the surprise choice of new owner for the business. It is unknown in fishing circles and owns no outdoor leisure-related industries. It specializes in consumer, distribution and retail-related investments.
In the same press release, Newell announced the sale of Jostens, another brand deemed surplus to requirements, for $1.3 billion. The two deals will add approximately $2.5 billion to the Newell Brands balance sheet.
The proceeds of the sale of Pure Fishing will come as a surprise to many analysts and those within the industry who valued the business at between $500 million and $1billion.
“We are pleased to announce another step forward in our Accelerated Transformation Plan, with the signing of the Pure Fishing and Jostens transactions,” said Michael Polk, Newell Brands President and Chief Executive Officer. “We have full confidence that these businesses will continue to thrive under new ownership, as they leverage their strong positions in the market place.”
Newell Brands took control of Pure Fishing when it acquired the Jarden Corporation for $16 billion in April 2016, but its future with the new owner has been under a cloud for much of the time and it was officially put up for sale in May of this year.
In 2017 Pure Fishing’s net sales from its top-end brands that include Penn, Abu Garcia, Greys and Berkley, were approximately $556 million.
(Posted by Anthony – Angling International)
This week’s feature image Tracey Hittel steelhead release.
Noel Gyger reports. Rain with highs to +7 degrees Celsius. Skeena River is back in shape and fishing well for Steelhead. Coho fishing closed October 31st. Tyee Test Fishery showing a record run of Steelhead this season – this is good news. Hope this trend holds! Coho run was way down this year. Kalum River is in good shape and fishing well for Steelhead. Both fly and spin fishing are working well. Kitimat River is closed to Salmon fishing. Zymoetz (Copper) River is clean and fishing well for Steelhead. Ocean fishing for Salmon, Halibut, Prawn, Dungness and Alaska King Crab is fair out of the ports of Kitimat and Prince Rupert.
If you would like to book a river fishing guide or ocean charter for 2018-19 contact Noel at www.noelgyger.ca .
SEC filing prompts renewed speculation of ‘imminent’ Pure Fishing sale.
Speculation that the sale of Pure Fishing is imminent has been heightened by an SEC filing by its owner, Newell Brands. Work behind the scenes at Newell Brands, through a filing with the US Securities and Exchange Commission (SEC), indicates a major announcement from the group is looming, fueling speculation that the sale of Pure Fishing is imminent. Last week Newell Brands, which has deemed Pure Fishing surplus to requirements, filed an 8-K form – a wide ranging device used to report unscheduled events or corporate changes at a company that could be of importance to shareholders. The SEC defines its scope as covering ‘important, but irregular corporate events’. Last week Angling International reported that, according to an industry insider, a deal for the world’s biggest fishing tackle company is expected to be completed by the end of the month. The latest move by Newell Brands, which acquired the company following its £16 billion purchase of the Jarden Corporation in April 2016, seems to indicate that Pure Fishing is on the brink of being sold. Fishing Tackle Retailer, the US business magazine for the industry, reports rumors that American Outdoor Brands – formerly known as Smith and Wesson – is favorite to buy the entire division, which has been valued at $624.4 million. However, it adds that Newell Brands has said that American Outdoor Brands is not currently in the sales process. American Outdoor Brands presented its own SEC in September in which it stated its intention to acquire ‘brands in the fishing realm’ naming rods, reels, lures, storage, lines, tools and gear as future expansion opportunities.
(Posted in Angling International by Anthony – additional reporting: Fishing Tackle Retailer.)
CONSTANTIA, N.Y. — State Department of Environmental Conservation staff this month are busy stocking lake sturgeon in a number of state waterways, in addition to tagging some for research and tracking purposes. The prehistoric-looking lake sturgeon are classified as a threatened species in New York and the stocking program, which began in 1993 is an ongoing cooperative project between the DEC, U.S. Fish and Wildlife, US Geological Survey, Cornell University and other partners. The goal is to restore a healthy and sustainable population. The DEC’s Oneida fish hatchery serves as Ground Zero for the effort in New York. It’s the only hatchery in the state where sturgeon are being raised. In preparation for stocking, workers were busy there Thursday morning tagging select fish.
Tagging lake sturgeon prior to stocking in Upstate NY
The fish being stocked – all averaging about six inches long – were all raised from eggs collected last spring on the St. Lawrence River near the Moses-Saunders Dam at Massena. The eggs were split between the Oneida hatchery and the Genoa National Fish Hatchery in Genoa, Wisc. The Wisconsin fish were recently returned to the Oneida hatchery to be stocked across the state. “We stocked the North Country waterways Wednesday and we’re due to stock in Cayuga Lake Friday,” said Lisa Holst, the DEC’s Rare Fish Unit leader who is coordinating the effort.
TORONTO, On., Oct. 3, 2018 – For the second year in a row, Yamaha has been named an IBEX Innovation Award winner in the outboard motor category by the National Marine Manufacturers Association (NMMA) and Boating Writers International (BWI) during the annual International Boatbuilders’ Exhibition and Conference (IBEX). This year, Yamaha’s innovative new V8 XTO Offshore was given the nod. “We recognize the judges had a great deal to consider when making their selections, so this is a great honour,” said Jean-Francois Rioux, National Manager, Marine, Yamaha Motor Canada. “This new flagship outboard is a huge step forward in technology – not just for Yamaha but for the marine industry as a whole. The XTO is an exciting addition that expands Yamaha’s lineup to meet the evolving demand from both boat builders and consumers for outboard power on larger boats.”
Pushing the heaviest offshore boats and yachts requires driving extreme, large propellers, a massive, rugged gearcase and an extreme powerhead. As the first four-stroke powerhead in the outboard industry to use Direct Injection, the V8 XTO Offshore is already a legend, spraying fuel at high pressure directly into the combustion chamber, rather than the intake track, just before the intake valve. This greatly improves atomization and increases the effectiveness of the fuel burn for maximum power and efficiency. The V8 XTO Offshore also features integrated electric steering, the first of its kind in any outboard. The integrated steering system has no hydraulic lines or linkages, and responds more quickly than conventional systems to steering inputs. In addition, integrated electric steering means reduced power consumption, clean rigging, and a very orderly bilge area. Boats powered by the V8 XTO Offshore need go no further than the dock for a lower unit service, thanks to a unique gear case lubricant exchange system that allows fluid change in the water. In addition, the V8 XTO Offshore also has great charging capabilities, providing up to 90 amps of total (gross) power and reaches peak net output around 1500 rpm where it is needed most. The Innovation Awards program is one of the marine industry’s most prestigious honours. It recognizes products that demonstrate innovative distinction from other products, with tangible benefits for both consumers and the marine industry. The Innovation Awards judging committee is comprised of BWI members who perform product testing throughout the year and have specific expertise in marine OEM products and equipment. To see the entire lineup of Yamaha Outboards, visit www.yamaha-motor.ca.
Media Contact: Amanda Comission, Marketing Specialist (416) 498-2285 | Amanda_Comission@yamaha-motor.ca