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Rapala buys Sufix

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Old news????

Rapala buys Sufix 6/13/2008

Yao I Fabric Co., Ltd. has agreed to sell its Sufix fishing line property to Rapala, a move that triggers the conclusion of an exclusive supply agreement between the two companies.

According to a release announcing the transaction, as part of the purchase, Rapala will also acquire all intangible assets related to Sufix-branded and other fishing line business, as well as all Sufix inventory from Sufix North America, Inc.

According to the terms of the exclusive supply agreement, after an interim period and under certain conditions, Rapala will be selling fishing lines manufactured by Yao I and Yao I will be manufacturing fishing line for Rapala only, including subcontracted fishing lines for third party customers (OEM).

Financial terms of the deal were not released.

"Through this deal Rapala enters into the worldwide fishing line category in a meaningful way," Rapala CEO Jorma Kasslin said in the release. "As a result of this deal, Yao I will supply Rapala's global distribution network with a wide selection of fishing lines, including monofilament, braided and fluorocarbon lines.

"While Yao I is strong in manufacturing and development of fishing line, Rapala is strong in global marketing and distribution. Therefore, this will be a win-win concept creating an exceptionally strong fishing line business for both companies. Rapala's target is to gain a significant market share from the worldwide fishing line business during the next few years."

The deal is expected to be closed sometime in July.

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This should be interesting.  My vote goes to abject failure if they try to market under the Rapala name.....unless they try to sell it really cheap.

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Just when you find one you like...

Exactly.  :-/

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