Sale of Pure Fishing to Sycamore Partners completed
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The world’s largest fishing tackle manufacturer has officially got a new owner.
Newell Brands has announced that Pure Fishing, which boasts some of the world’s top brands, has become a member of the private equity group, Sycamore Partners..
As reported in Angling International‘s newsletter, Communique Online, in November, the New York based company bought Pure Fishing in a deal worth $1.3 billion. Newell Brands acquired the angling group’s portfolio of companies as part of the $16 billion merger with the Jarden Corporation in December 2015.
Newell has also announced that the divestiture of Jostens has been rubber-stamped.. Like Pure Fishing, it was deemed surplus to requirements by Newell.
The sale of both businesses is part of Newell Brands Accelerated Transformation Plan, which has been designed to create what it describes as a ‘simpler, faster, stronger consumer-focused portfolio of leading brands’.