Sycamore Partners has closed its previously announced acquisition of Pure Fishing from Newell Brands. No financial terms were disclosed. Pure Fishing is a provider of fishing tackle, lures, rods and reels.
NEW YORK, Jan. 7, 2019 /PRNewswire/ — Sycamore Partners today announced that it has completed its acquisition of Pure Fishing from Newell Brands.
Peter Morrow, Managing Director at Sycamore Partners, said, “Pure Fishing and its portfolio of global brands represent an exciting opportunity to continue our strategy of investing in and supporting great retail and consumer brands with significant potential. We are excited to help Pure Fishing build on its market-leading position and accelerate its growth. We are also pleased to have been able to work constructively on this carve-out for Newell Brands to further its strategic transformation.”
In connection with the closing, Harlan Kent has been named Chief Executive Officer of Pure Fishing. Mr. Kent has more than 30 years of experience working with and leading brands including Performance Sports Group, Totes Isotoner, and Yankee Candle Company.
Mr. Kent said, “I am honored to be a part of the Pure Fishing team, particularly at this exciting juncture. Sycamore Partners is well known for partnering with management teams to create value, and I look forward to benefiting from their support and expertise. Together with Pure Fishing’s employees, we will best leverage our portfolio of leading brands to the benefit of our customers.”
About Pure Fishing
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®.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. Sycamore has approximately $10 billion in assets under management. The firm’s investment portfolio currently includes Belk, Coldwater Creek, CommerceHub, Hot Topic, MGF Sourcing, NBG Home, Pure Fishing, Staples, Inc., Staples United States Retail, Staples Canada, Talbots, The Limited and Torrid.