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, a 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 the sales were not disclosed.
