From Wired2Fish...
"Newell brands as part of its massive overhaul of its company, sold Pure Fishing for $1.3 billion to New York-based Sycamore Partners private equity group. Sycamore Partners does not hold any other businesses in the outdoors recreation space.
Pure Fishing had net sales from it's top lines (Penn, Abu Garcia, Berkley) of $556 million in 2017 according to the report."
HALLELUJAH!!! maybe the new owners won't be the tackle Antichrist
This may not be great news. Private equity groups hold even less sacred than corporations. A lot of product may cease to exist that traditionalists on this sight like to have around.
The Man
Some companies are just corporate raiders and just sell off the pieces for a quick profit. Time will tell. Rudy
I don't know what to think of it.
First thing that comes to mind is Mystic parts.
Hopefully this doesn't effect their business too much.
They are good people and I use them when I need to because they are always there.
Maureen is like the Allstate Commercial. I know I am in good hands every time. ;)
Alright," Maureen, the Penn parts-good hands lady"
"Private equity group". Sounds kinda ominous...
Mystic should be okay as long as they can source the parts. If Penn decides to no longer make parts and there is a market other manufacturers will take up the slack. My opinion for what it's worth. Dominick
Yes Well, its Mystic for me, Maureen is always so helpful, when I am placing orders, & her emails come in all hours, I dont think she ever sleeps, cheers Don
My initial feelings are that I dont like this & expect the worse. However the sane thing to do is wait & see. While I purchase the US made Penns I've wanted that are in present production ... Jeff