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Pure fishing sold

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Sycamore investments has purchased pure fishing. Sycamore investments portfolio is almost entirely clothing and fashion. I see bad things happening to pure fishing. Whenever an investment company buys something they don’t understand it always ends bad for the original company.

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Doesn't sound good. Hopefully they will put somebody in charge that knows the fishing industry.

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It will be interesting to see what happens with Pure Fishing. Did you see where the parent company of Lews/ Strike King bought Southern Plastics? Southern makes all of Strike King's soft plastics, along with BPS and a few others. Interesting things happening in our sport

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I hope the factory in Korea continues to make reels.

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15 hours ago, Harold Scoggins said:

I hope the factory in Korea continues to make reels.

I hope the factory in Spirit Lake, Iowa continues to make bait and line!

 

oe

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I hope they start selling tackle in Staples®, specially frogs and poppers...

Now I know how Dennis Miller feels....

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8 minutes ago, reason said:

I hope they start selling tackle in Staples®, specially frogs and poppers...

Now I know how Dennis Miller feels....

The new owners are in clothing. That means they will sell fishing stuff in J.C.Penney or Kohls.

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3 hours ago, Log Catcher said:

The new owners are in clothing. That means they will sell fishing stuff in J.C.Penney or Kohls.

Have you ever been in a Bass Pro Shop? There is more floor space devoted to clothing than everything else combined!

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Does it really matter.  This is how the fishing industry works. You buy a company with a great brand that fishermen grew up loving.  Then you find a manufacturer that can make the products cheaper.

 

They can probably make more money selling Abu Garcia branded clothes than they can selling Abu Garcia reels that have to compete with all of the other brands of reels made in the same factory in Asia.

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Pure Fishing is based out of okoboji in my home state my aunt has an uncle that engineers lots of berkley lines such as nanofil and he gets us product every so often. Who knows whats to come...

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BassCats. thanks for letting us know the deal went through.

 

You know, things change all the time in business. Sometimes for the better and sometimes for the worse.

 

Take Sears. Why in the world did they purchase K-Mart? And BPS taking over Cabela's? BPS taking control of Ranger and Triton? I know everyone out there can add to this list so be my guest.

 

You wonder "what in the world are these guys thinking?" Are there great profits to be made by purchasing other companies and making changes to bolster the bottom line? What Wall Street executive gave them the idea in the first place and then what accounting and banking firms helped them with the purchase?

 

You know changes are coming in our industry. Large and small changes. And the sale of Pure Fishing is a large change.

 

The older guys and gals who made Pure Fishing prosper and be profitable will either leave now with nice buy-outs or be let go. The people responsible for Pure Fishing's success will be replaced by others who may or may not know the fishing business. The bottom line becomes extremely important and we know layoffs are right around the corner. Hope they wait until after the holidays to step in and destroy the current management and work force.

 

And although we focus on product, the executives and accountants focus on money. What sells? What does not? What is a profitable division and what isn't? What formula changes can be made and still improve sales and the bottom line? It is all financially driven, not product driven. Any product from clothes to auto parts to furniture to hardware to fishing and hunting items make no difference. It is all financial and all decisions will be based on money.

 

Lots of unknowns for everyone associated with Pure Fishing on all levels. This is true of all large take-overs. Maybe more part timers to save on benefits? Maybe lower quality products? Maybe a reduction in management at the plants, distribution points and the retail outlets? Maybe less employees (like hospitals having one nurse for you and 10 other patients for their 8 hour shifts) to cut costs? Maybe purchase more and more products from overseas where the quality can be questionable?

 

Longevity does not mean anything. Those who have worked for Pure Fishing for many, many years mean nothing. Many times buy-outs mean no loyalty to the working staff who have worked so hard for so many years. Employees who have reached age 62 to 65 may be forced out for people who will now make minimum wage or lower annual salaries (younger guys and gals) or work part-time so the company will not have to give them health insurance and other benefits. It is all financial. The accountants will run the show. Nothing to do with products or services. Totally financial.

 

All we can do is sit back and see what happens. Maybe this is a great assumption. Maybe not. Time will tell. Everyone stay tuned.

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On 11/9/2018 at 7:45 AM, Log Catcher said:

The new owners are in clothing. That means they will sell fishing stuff in J.C.Penney or Kohls.

Maybe they will start selling war eagle shirts again on tw?

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In other words I need to start buying up Pflueger and Abu Reels before they are non existent.

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Pure Fishing was owned by Newell Brands, which was also a holding company. So hopefully nothing changes. I hope not because it's corporate HQ is right here in Columbia, SC.

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truth be known pure fishing may be poorly performing right now... we are not privy to the books -- financials...a buyout could help it survive...capitalism punishes poor performers...

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On 11/9/2018 at 10:35 AM, reason said:

I hope they start selling tackle in Staples®, specially frogs and poppers...

Now I know how Dennis Miller feels....

STATIONARY!.... Tough crowd, I'll be here all week....

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I am really curious how this plays out.

 

I had been sponsored by Pflueger (reels) and All Star (rods) for many years prior to them getting bought out by Pure Fishing. Once the buyout occurred a guy from PF told me that his budget was almost nothing and to please give him 1 year and he would take care of me. I had been with them long enough that I could afford to give them a year. Well the next year that guy didn't even work there anymore and I was out the door.

 

Hopefully it works out for the company, the employees, the anglers and the industry as a whole.

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PureFishing has not done much of anything. Most of their brands are becoming a thing of the past. I like the Abu Garcia low profile reels, but when it became purefishing, they rolled out the “new” styles and did JDM test marketing that even had JDM versions of reels. But all of that was just the honeymoon, then it’s just been pure stagnation. Penn should have top quality products that people want. It doesn’t. They still don’t even make a low profile baitcaster. It’s sad, really. Only Berkley Gulp and Powerbait are actually selling. These were some of the biggest brands. Penn hasn’t done anything since the late 70’s to early 80’s. Stren? Who says I just got a new reel, can’t wait to spool it with some stren braid. Then there’s Spiderwire, nothing special, but overpriced and underperforming. Daiwa and Shimano completely replaced brands like Abu and Penn. I’d love to buy another Penn or Abu, but they haven’t made anything that compares to Daiwa & Shimano in recent times. I buy power bait all the time, but the rest of their products aren’t for me. 

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13 hours ago, CrankFate said:

PureFishing has not done much of anything. 

They must be doing something for someone to pay over $1.2 billion for them. 

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1 hour ago, reason said:

They must be doing something for someone to pay over $1.2 billion for them. 

 

Sometimes a poster's frame of reference is a tad small...

 

oe

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1 minute ago, OkobojiEagle said:

 

Sometimes a poster's frame of reference is a tad small...

 

oe

No, It's a common misconception in every sport by guys that take it seriously (or think they do) that companies should cater to the enthusiast. It's the not sexy, high margin, high volume items that make money, the niche stuff is just eye candy, think, Ugly Sticks, combos and socks.

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Not a fan of Pure Fishing but they had nothing to do with Penn reels doing poorly in the fresh water market. Penn was the premier salt water reel maker for decades until the higher quality Japanese salt water reel makers won over that business and Penn nearly went broke before Pure Fishing bought them.

Tom

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45 minutes ago, WRB said:

Not a fan of Pure Fishing but they had nothing to do with Penn reels doing poorly in the fresh water market. Penn was the premier salt water reel maker for decades until the higher quality Japanese salt water reel makers won over that business and Penn nearly went broke before Pure Fishing bought them.

Tom

My old Internationals are still going strong (from the 70s and 80s) , trolling and sharking, but you are right, when we are jigging, Its a Saltiga or Jigging Master. 

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On 11/24/2018 at 9:03 AM, reason said:

They must be doing something for someone to pay over $1.2 billion for them. 

That would be the value of Berkeley soft baits, ugly stick, spider wire and Abu Garcia.

 

Revenue of 80 million is a lot for a fishing company, but IMO, their biggest problem is too many products and a shrinking market. That plus zero innovation. 1.2 billion looks like more than 10 years of revenue. Kick ass deal for the seller if you ask me.

 

http://www.hoovers.com/company-information/cs/company-profile.pure_fishing_inc.660d556e90bad6aa.html

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