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The Wichita Eagle
April 10, 2007
The Coleman Co. will have a new niche in the outdoor products market -- sort of. Parent company Jarden Corp. said Tuesday it has acquired Pure Fishing Inc., a maker of fishing gear based in Spirit Lake, Iowa. It owns some powerful brands in the recreational fishing market, including Abu Garcia, Berkley and Trilene.
The acquisition, which closed Friday, included $300 million in cash and a $100 million, five-year note.
Jarden will operate the company under its Jarden Outdoor Solutions segment, which includes Coleman and is headed by Coleman chief executive Gary Kiedaisch.
Kiedaisch has served on Pure Fishing's board of directors for the past year and a half.
Jarden officials said they believe the strength of the Coleman brands and those of Pure Fishing can be leveraged for growth in both companies through cross-selling and distribution.
Kiedaisch said Tuesday that Pure Fishing will get the most immediate benefits from the acquisition.
He said it's a small company compared to Coleman and even smaller compared to parent Jarden, a consumer products conglomerate that has more than 20,000 employees and $3.9 billion in 2006 revenue.
Pure Fishing will be able to tap Jarden's economies of scale, especially in the purchase of raw materials, sea freight and others, using that cost savings for new product development and enhanced marketing and advertising, Kiedaisch said.
'What this is, is an opportunity to take the good things Coleman does in Wichita and lend a hand to our friends in Iowa, now,' Kiedaisch said. 'It will, overall, increase our margins and make the company healthier.'
He said Pure Fishing will operate independently from Jarden, just as Coleman has. Pure Fishing will have its own president who will report to Kiedaisch. Tom Bedell, chairman of Pure Fishing, will serve as interim president until a permanent president is found, Kiedaisch said.
In 2006, Pure Fishing had revenue of more than $250 million, which will boost Jarden Outdoor Solutions' annual revenue to $1.2 billion, Kiedaisch said.
Besides the U.S., Pure Fishing has operations in 18 countries and sells its products through more than 15,000 retailers, according to Hoovers.com.
Its products include rod, reels, lures and bait.
In Wichita, the company's products are sold in major retailers such as Wal-Mart, as well as outdoor retailers Gander Mountain, Sportsman's Warehouse, Zeiner's Bass Shop and Dick's Sporting Goods.
Martin Franklin, Jarden Corp.' s chief executive, said in a news release Tuesday that his company thinks there are significant opportunities for future growth in the recreational fishing category.
According to a report by the American Sportfishing Association, sales of rods and reels increased from $818 million in 1980 to $1.9 billion in 2001.
Sales of lures and flies between 1985 and 2001 grew by $285 million, the report said
April 10, 2007
The Coleman Co. will have a new niche in the outdoor products market -- sort of. Parent company Jarden Corp. said Tuesday it has acquired Pure Fishing Inc., a maker of fishing gear based in Spirit Lake, Iowa. It owns some powerful brands in the recreational fishing market, including Abu Garcia, Berkley and Trilene.
The acquisition, which closed Friday, included $300 million in cash and a $100 million, five-year note.
Jarden will operate the company under its Jarden Outdoor Solutions segment, which includes Coleman and is headed by Coleman chief executive Gary Kiedaisch.
Kiedaisch has served on Pure Fishing's board of directors for the past year and a half.
Jarden officials said they believe the strength of the Coleman brands and those of Pure Fishing can be leveraged for growth in both companies through cross-selling and distribution.
Kiedaisch said Tuesday that Pure Fishing will get the most immediate benefits from the acquisition.
He said it's a small company compared to Coleman and even smaller compared to parent Jarden, a consumer products conglomerate that has more than 20,000 employees and $3.9 billion in 2006 revenue.
Pure Fishing will be able to tap Jarden's economies of scale, especially in the purchase of raw materials, sea freight and others, using that cost savings for new product development and enhanced marketing and advertising, Kiedaisch said.
'What this is, is an opportunity to take the good things Coleman does in Wichita and lend a hand to our friends in Iowa, now,' Kiedaisch said. 'It will, overall, increase our margins and make the company healthier.'
He said Pure Fishing will operate independently from Jarden, just as Coleman has. Pure Fishing will have its own president who will report to Kiedaisch. Tom Bedell, chairman of Pure Fishing, will serve as interim president until a permanent president is found, Kiedaisch said.
In 2006, Pure Fishing had revenue of more than $250 million, which will boost Jarden Outdoor Solutions' annual revenue to $1.2 billion, Kiedaisch said.
Besides the U.S., Pure Fishing has operations in 18 countries and sells its products through more than 15,000 retailers, according to Hoovers.com.
Its products include rod, reels, lures and bait.
In Wichita, the company's products are sold in major retailers such as Wal-Mart, as well as outdoor retailers Gander Mountain, Sportsman's Warehouse, Zeiner's Bass Shop and Dick's Sporting Goods.
Martin Franklin, Jarden Corp.' s chief executive, said in a news release Tuesday that his company thinks there are significant opportunities for future growth in the recreational fishing category.
According to a report by the American Sportfishing Association, sales of rods and reels increased from $818 million in 1980 to $1.9 billion in 2001.
Sales of lures and flies between 1985 and 2001 grew by $285 million, the report said
