alan tani @ alantani.com fishing reel repair rebuild tutorial Penn in play again?
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August 23, 2019, 05:25:13 AM *
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Author Topic: Penn in play again?  (Read 2284 times)
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mike1010
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« on: January 25, 2018, 03:01:47 PM »

I just read in the WSJ that Newell Brands (parent of Jarden, parent of Pure Fishing) is about to give up some of the businesses it acquired with Jarden.  Rawlings is among those to be shed, but there was no mention of Pure Fishing or any of its pieces.

Mike
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Penn
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« Reply #1 on: January 26, 2018, 04:42:57 AM »

I just read in the WSJ that Newell Brands (parent of Jarden, parent of Pure Fishing) is about to give up some of the businesses it acquired with Jarden.  Rawlings is among those to be shed, but there was no mention of Pure Fishing or any of its pieces.

Mike

Mike,

Not something I can talk about but what I will say is that any of the reports you read will not mention PENN or Pure Fishing as one of the "exploring strategic options" brands.

http://ir.newellbrands.com/investor-relations/press-releases/press-release-details/2018/Newell-Brands-Announces-Acceleration-of-Transformation-Plan-Preliminary-2017-Results-and-Initial-2018-Guidance/default.aspx

tony
« Last Edit: January 26, 2018, 04:44:07 AM by Penn » Logged
mike1010
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« Reply #2 on: January 26, 2018, 09:25:10 AM »

Thanks, Tony.
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rfkca
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« Reply #3 on: February 05, 2019, 11:31:25 AM »

December 21, 2018

  HOBOKEN, N.J.--(BUSINESS WIRE)--Dec. 21, 2018-- Newell Brands Inc. has completed divestitures of Pure Fishing as the company
  continues to execute on its Accelerated Transformation Plan, designed to create a simpler, faster, stronger consumer-focused portfolio of
  leading brands.

  Newell Brands completed the sale of Pure Fishing to Sycamore Partners. Pure Fishing is a leading global provider of fishing tackle, lures,
  rods and reels, with a portfolio of brands that includes Abu Garcia®, All Star®, Berkley®, Chub®, Fenwick®, Greys®, Hardy®,
  Hodgman®, Johnson™, JRC®, Mitchell®, Penn®, Pflueger®, Sebile®, Shakespeare®, SpiderWire®, Stren®, and Ugly Stik®.

My 2 cents: Pure Fishing was sold to Sycamore Partners, a NYC based private equity firm. PE Firms generally tend to add value by carefully growing profitability/cash flow of the business over a 5 to 7 year investment period. Because PE firms do not publicly disclose earnings and profits on a quarterly basis (as Newell had to) they are better equipped to make investments in growing the products and brands over time without fear of missing quarterly earnings numbers and upsetting stockholders. Sometimes improving profits means pruning under performing assets through sale, downsizing or closure. Overall, this sale is likely to be good news for the Penn brand which has a strong consumer reputation and loyal user base.
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swill88
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« Reply #4 on: February 05, 2019, 01:55:48 PM »

December 21, 2018

  HOBOKEN, N.J.--(BUSINESS WIRE)--Dec. 21, 2018-- Newell Brands Inc. has completed divestitures of Pure Fishing as the company
  continues to execute on its Accelerated Transformation Plan, designed to create a simpler, faster, stronger consumer-focused portfolio of
  leading brands.

  Newell Brands completed the sale of Pure Fishing to Sycamore Partners. Pure Fishing is a leading global provider of fishing tackle, lures,
  rods and reels, with a portfolio of brands that includes Abu Garcia®, All Star®, Berkley®, Chub®, Fenwick®, Greys®, Hardy®,
  Hodgman®, Johnson™, JRC®, Mitchell®, Penn®, Pflueger®, Sebile®, Shakespeare®, SpiderWire®, Stren®, and Ugly Stik®.

My 2 cents: Pure Fishing was sold to Sycamore Partners, a NYC based private equity firm. PE Firms generally tend to add value by carefully growing profitability/cash flow of the business over a 5 to 7 year investment period. Because PE firms do not publicly disclose earnings and profits on a quarterly basis (as Newell had to) they are better equipped to make investments in growing the products and brands over time without fear of missing quarterly earnings numbers and upsetting stockholders. Sometimes improving profits means pruning under performing assets through sale, downsizing or closure. Overall, this sale is likely to be good news for the Penn brand which has a strong consumer reputation and loyal user base.

Thanks for your 2 pennies rfcka.
Steve
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