Newll Brands announces sales of Pure Fishing
(Hoboken, NJ)-- A Spirit Lake manufacturer of fishing line and equipment is changing hands. Newell Brands announced Wednesday it's selling Pure Fishing to Sycamore Partners, a private equity firm based out of New York City, for $1.3 billion.
Pure Fishing posted net sales in 2017 of about $556 million.
Pure Fishing is a global manufacturer and provider of fishing tackle, lures, rods and reels with a portfolio of brands including Abu Garcia, All Star, Berkley, Chub, Fenwick, Greys, Hardy, Hodgman, Johnson, JRC, Mitchell, Penn, Pflueger, Sebile, Shakespeare, Spiderwire, Stren and Ugly Stik.
The transaction is pending regulatory approval.
There was no immediate word as to what, if any, impact there will be on Pure Fishing's operations in Spirit Lake.
Story courtesy of Community First Broadcasting's KUOO News