Tackle News

[TOXIC]

What do all of these brands have in common?

 

• Abu Garcia: Originally named AB Urfabriken, Abu Garcia is a Swedish brand, many of their reels and other tackle are still made in Sweden.
• Berkley: This company originated in Iowa in 1937. Some of their fishing lines are made in the USA (only a few of the Trilene brand). Tough to find Powerbait and other tackle made domestically.
• Chub: This company is based in the UK and focuses on Carp fishing products.
• Fenwick: Very popular fishing rods, unfortunately most are made in Taiwan.
• Fin-Nor: A popular fishing reels brand recently acquired by Pure Fishing. However, not many of their reels are made here.
• Greys: This company is based in the UK and makes a lot of fly fishing gear.
• Hardy: Also an English company that focuses on fly fishing tackle.
• Hodgman: Makes popular waders, unfortunately they are not made in the USA (confirmed with the Hodgman team).
• JRC: Carp fishing tackle and accessories, based in the United Kingdom.
• Mitchell: Famous for their spinning reels, based in Marignier, France.
• Penn: Only a few reels made in the USA, most are made overseas. Full article on Penn reels here.
• Pflueger: Fly fishing and spinning tackle, most is not made in the USA.
• Sebile: French owned fishing tackle company.
• Shakespeare: Founded in Michigan, popular option for kids fishing tackle. Unfortunately not much tackle made here anymore and has had recall issues.
• SpiderWire: Popular braided fishing line with lots of made in the USA options. 
• Stren: Well known fishing line company, lots of made in the USA options.
• Ugly Stik: Nope, most of these popular fishing rods are made overseas now.
• Van Staal: Reels mostly for saltwater anglers. Some components sourced from China, but does some manufacturing in Tulsa, Oklahoma. Tread carefully.

 

Answer: They are all owned by Pure Fishing which appears to be in a bit of financial peril.

 

Pure Fishing at risk of full default despite parent company’s efforts

Sycamore Partners, the equity group that bought Pure Fishing in 2019, has repurchased the company’s entire $255 million second-lien term loan, reports financial information and analytics firm S&P Global Ratings, which describes the move as ‘tantamount to a default.’

 

Could send some pretty serous waves through the industry. 

 

[Tennessee Boy]

It would definitely send waves through the industry.   I assumed by the number of ownership changes in recent years that it was not doing well.   Eventually it’s many brands will probably be auctioned off to the highest bidder.   I hate it when classic fishing brands with so many memories get sold to people that only want exploit the brand’s value.  

[MN Fisher]

30 minutes ago, TOXIC said:

Answer: They are all owned by Pure Fishing which appears to be in a bit of financial peril.

Forgot Plano Synergy which it purchased in 2021 - Includes Plano Molding, Frabill, Barnett Crossbows and others.

[Darth-Baiter]

my friend bought a Van Staal reel and took it to Oklahoma last year.  it was heavy, and awful.   you had to manually flip the bail open and closed.  it wasnt smooth at all. 

[MN Fisher]

3 minutes ago, Darth-Baiter said:

my friend bought a Van Staal reel and took it to Oklahoma last year.

Doubt there's much salt-water fishing in OK

 

Van Staal's are mostly for sport fishermen going after Tuna, Marlin, Sailfish, etc....maybe could use for sturgeon or big muskies in fresh water...but it's not ideal.

[Darth-Baiter]

2 minutes ago, MN Fisher said:

Doubt there's much salt-water fishing in OK

 

Van Staal's are mostly for sport fishermen going after Tuna, Marlin, Sailfish, etc....maybe could use for sturgeon or big muskies in fresh water...but it's not ideal.

he bought it for the Texas shoreline and took it to OK for a dry run.  

[Junger]

It looks like they repo'd their own debt first, so that when they file Chapter 11, their lien won't be wiped out. Some of these brands will probably be discontinued if they do file for bankruptcy, as Sycamore trims the fat to turn this around. PE firms don't acquire companies to lose money, they acquire assets and figure out how to get rid of the debt and then turn it around for a profit.

[MN Fisher]

28 minutes ago, Junger said:

Some of these brands will probably be discontinued if they do file for bankruptcy

I'm betting Pflueger will be the first to go considering they trimmed all but the President XT from their baitcaster lines a couple years ago.

[volzfan59]

Hopefully some company will step in. I hate it for the employees. There's going to be a bunch of pro anglers looking for new sponsorship. I hate to see 

[volzfan59]

First, let me say that I'm no financial guru. I do what's right for me personally, I've got a guy that does a great job with everything else.

 

Anyway, just read an article about Subway selling to a private equity group. The same one that owns Jimmy John's, Arby's and some other's. I don't remember the groups name, but they beat out Sycamore Partners in the bidding. Just found that interesting. Go on about your day.

[txchaser]

Hopefully the smaller half of that list gets sold off to a new owner that can focus on it. How much attention can you put on VanStaal when you also have Berkely and Abu and Ugly Stick?