BREAKING NEWS: Ross Reels sold to Mayfly Group
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One of America’s best-known reel brands has been sold for the second time in just six months.
Ross Reels, which alongside its 3M stablemate Scientific Anglers was bought by the Orvis Company in June, has been acquired by the Mayfly Group.
Jim Lepage, President of the Orvis subsidiary operating both Scientific Anglers and Ross Reels, said that since acquiring the two brands it has developed a clear growth strategy for the SA fly line business, but has struggled to integrate the Ross operation into its own reels portfolio.
‘”It was difficult sustaining Ross’s diversified manufacturing operations in market segments where Orvis has limited expertise and name recognition. It therefore became clear that Ross would not be a strong fit for the long term strategy of Orvis.”
The Mayfly Group is a growing private investment company that bought Abel Automatics in January this year and announced – exclusively in the March issue of Angling International – its intention to make more acquisitions in the fly fishing segment.
“With the help of the Abel engineering team, the Ross brand will be updated and new products added. Ross will also re-introduce selected reels from its former product line-up including the Gunnison and Cimarron,” said David Dragoo, President of Mayfly. “Mayfly Group is honoured to be associated with Ross Reels, an iconic fly fishing brand. We hope to expand upon the creativity and quality of the brand developed by founder, Ross Hauck, more than 40 years ago.
“Ross Reels has an interesting history and a loyal following,” Lepage said. “We respect the company’s strong tradition, outstanding workforce, well-run factory and quality products. We would prefer for the brand to remain in the market, even if it remains a competitor to Orvis. We are happy that we found a strategic buyer that can give Ross Reels the attention it deserves and look forward to seeing it prosper and grow in the years to come. We wish Mayfly and the Ross Reel factory employees much success.”
The sale is scheduled to close on or about December 30. Both companies are working diligently to assure a smooth transition for Ross customers and employees, as well as business systems, so the change-over is as seamless as possible, said Lepage. Terms of the transaction have not been disclosed.