| Zebco purchases fishing line brands from Shakespeare |
TULSA, Okla. (Aug. 9, 2007)
A Zebco W.C. Bradley, best known as a rod and reel company, has
acquired four brands of fishing line from Shakespeare Co. LLC of
Columbia, S.C. The announcement was made today by Zebco President
Jeff Pontius upon completion of the transaction.
The purchased fishing line brands are Cajun Red, Omniflex, Supreme
and Outcast. Details of the acquisition are not being disclosed.
"We are pleased to have this opportunity to enter the fishing line
market," Pontius said. "The acquired business is a small but growing
'beachhead' for us in the line market and we plan to expand on it over
time."
The transaction is a result of a Federal Trade Commission (FTC)
decision. Shakespeare's parent company, K2 Inc., is owned by Jarden
Corp., which recently acquired Pure Fishing Inc. Because Pure Fishing
already has the leading market position on fishing line with brands like
Berkley Trilene, Stren and Spiderwire, the FTC required Shakespeare
to sell its fishing line business.
"We are excited about the line opportunities," said Bob Bagby, Zebco
vice president of marketing. "Cajun Red pioneered the idea of red line
which quickly becomes less visible in use since red is the first color
absorbed by water. The red line continues to grow in popularity and were
confident we can further build on its momentum."
Pontius expanded on the company's plans, saying that although transfer
of ownership to Zebco has already occurred, the change will not be
apparent to consumers for awhile as the existing inventory moves
through distribution. "The brands we acquired will remain the names on
the product," he said. "They are good, popular brands. The transition
should be relatively seamless for all customers."
Zebco will ultimately move the line business to its facilities in Tulsa and
Claremore, Okla., but does not foresee any changes to its workforce
needs over this time.
A Zebco W.C. Bradley, best known as a rod and reel company, has
acquired four brands of fishing line from Shakespeare Co. LLC of
Columbia, S.C. The announcement was made today by Zebco President
Jeff Pontius upon completion of the transaction.
The purchased fishing line brands are Cajun Red, Omniflex, Supreme
and Outcast. Details of the acquisition are not being disclosed.
"We are pleased to have this opportunity to enter the fishing line
market," Pontius said. "The acquired business is a small but growing
'beachhead' for us in the line market and we plan to expand on it over
time."
The transaction is a result of a Federal Trade Commission (FTC)
decision. Shakespeare's parent company, K2 Inc., is owned by Jarden
Corp., which recently acquired Pure Fishing Inc. Because Pure Fishing
already has the leading market position on fishing line with brands like
Berkley Trilene, Stren and Spiderwire, the FTC required Shakespeare
to sell its fishing line business.
"We are excited about the line opportunities," said Bob Bagby, Zebco
vice president of marketing. "Cajun Red pioneered the idea of red line
which quickly becomes less visible in use since red is the first color
absorbed by water. The red line continues to grow in popularity and were
confident we can further build on its momentum."
Pontius expanded on the company's plans, saying that although transfer
of ownership to Zebco has already occurred, the change will not be
apparent to consumers for awhile as the existing inventory moves
through distribution. "The brands we acquired will remain the names on
the product," he said. "They are good, popular brands. The transition
should be relatively seamless for all customers."
Zebco will ultimately move the line business to its facilities in Tulsa and
Claremore, Okla., but does not foresee any changes to its workforce
needs over this time.
