COLUMBIA, S.C. (April 16, 2021) — Pure Fishing Inc., the world’s largest fishing tackle company, announces the close of its purchase of Plano Synergy Holdings Inc., effective today. As part of the closing of this purchase, Pure Fishing also announces it has closed the sale of Plano Synergy’s archery and hunting accessories brands to GSM Outdoors, the leader in the enthusiast hunting, sport shooting, and rugged outdoor market, also effective today.
Pure Fishing will retain ownership of the iconic Plano and Frabill brands to complement the company’s existing footprint in the global fishing tackle market. Pure Fishing will also retain ownership of Plano’s storage and fall storage business, as well as the Creative Options and Caboodles brands. This strategic acquisition is the third for Pure Fishing in two years under the ownership of private equity firm Sycamore Partners.
“This acquisition allows Pure Fishing to continue to build upon its industry-leading position within the fishing industry, something that remains a priority for the company,” said Pure Fishing CEO Harlan Kent. “By selling the archery and hunting accessories brands to GSM Outdoors, already a leader in the hunting and outdoors industry, we have created great brand alignment for both companies, which allows each of us to play to our own unique strengths.”
Through its purchase of the Plano Synergy archery and hunting accessory brands, GSM Outdoors adds Wildgame Innovations, Ameristep, Tenzing, Zink, Halo Optics, Flextone, Avian X, Evolved, Barnett and Zero Trace to its existing portfolio of 33 hunting- and shooting-related brands. This strategic acquisition is the fourth for GSM Outdoors under the partnership with Gridiron Capital.
“We are thrilled about the acquisition of the best-in-class Synergy Outdoors brands which will significantly enhance GSM’s offerings,” stated GSM Outdoors CEO Eddie Castro. “This allows us to continue to add significant value to our retailers and ultimately end consumers as we strengthen our one-stop-shop offering.”
Closing terms for each sale 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 Reels®, Johnson®, JRC®, Mitchell®, PENN®, Pflueger®, Sebile®, Shakespeare®, SpiderWire®, Stren®, Ugly Stik®, and Van Staal®.
About GSM Outdoors
Few American outdoor companies enjoy a mutually respected relationship with their customers that spans over five generations. GSM Outdoors is among those few! For over 70 years, the GSM family of brands has been helping passionate hunters and shooters succeed through innovation and the manufacture of high-quality, reliable products that continue to prove themselves in the field and on the range to this day. GSM Outdoors continues to leverage the latest technology and provide customers with the best products on the market. Tradition, heritage, and loyalty to outdoor enthusiasts of generations past and generations to come...that’s the GSM Outdoors guarantee!
GSM Outdoors Brands:
Stealth Cam, Walker’s, Muddy, Birchwood Casey, TekMat, Boss Buck, New Archery Products (NAP), Western Rivers, Hawk, Big Game, Down & Out Blinds by Hawk, HME, Coyote Light, Scent Slammer, SME, Bullseye, Crossfire Holsters, Cyclops, Viking Solutions, Hunter’s Specialties, Scent-A-Way, HS Strut, Buck Bomb, Wayne Carltons Calls, GPS Bags, Walker’s Safety, TRUGLO, APEX Gear, Johnny Stewart, Cold Steel, Skull Hooker
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.
About Gridiron Capital
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B, and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values, and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.
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