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Pure Fishing Announces
the Purchase
of Stren Fishing Lines
Spirit lake, Iowa, Feb. 10, 2004 -
Pure Fishing announced that it
has purchased the fishing related assets of Remington Arms Company,
Inc., including the popular Stren brand, effective Feb. 10, 2004.
Purchase of the Stren fishing
business, headquartered in Madison, North Carolina, includes
both U.S. and International operations.
According to company sources,
adding the Stren brand to its lineup of fishing tackle products
in consistent with the strategy Pure Fishing has pursued over
the last 15 years, bringing together ever popular brands and
companies that have defined fishing tackle for the world's 125
million anglers and improving these products and expanding their
sales. Brands Pure Fishing has acquired include Abu Garcia, Mitchell,
Fenwick, Johnson, Spider, and Sevenstrand.
"At Pure Fishing we are
passionate about advancing the performance and value of fishing
tackle to help anglers have even more fun catching more fish.
Stren has been a pioneer in new fishing line technology for decades.
Combining the Stren brand with our already strong capabilities
in product innovation will further advance the performance we
can deliver to anglers. The strategic fit is excellent, as we
bring enhanced efficiency to the market place in terms of sourcing,
manufacturing, servicing, merchandising and shipping. We will
be able to deliver better performing products at a better value
to anglers worldwide. That is the magic in the whole Stren acquisition.
Being able to deliver exceptional consumer value," Tom Bedell,
Chairman of the Board of Pure fishing, said.
Bedell went to to say, "Fishing
is America's third most popular outdoor recreational activity.
Only walking and swimming have greater participation. Our company
slogan "Live to Fish" is more than a business geared
towards a popular activity. It's everything we are. Our passions.
Our goals. Our dreams. All that we do is centered on fishing.
Pure Fishing's mission of building the world's best fishing tackle
company represents a total commitment to the future of fishing
and iwth the acquisition of Stren that commitment has never been
stronger."
Tommy Milner, President and
CEO of Remington Arms Company, Inc. said, The divestiture of
the Stren brand is consistent with Remington's focus on its core
businesses of hunting, shooting sports, and law enforcement and
military markets. This transaction provides Remington with significant
flexibility to pursue a number of strategic alternatives in these
markets and gives Pure Fishing a dynamic brand to add to their
fishing tackle portfolio."
Pure Fishing has followed a
long tradition of continual growth established by the company's
founder, Berkley Bedell, back in 1937. Recent growth, under the
leadership of Tom Bedell, the founder's son has accelerated.
Growth over the past decade has come as a result of acquisitions,
new business start-ups, and the introduction of innovative products
the company says.
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