Again, you choose to mis-quote - this was written by the other party to the press release, the MD of Shakespeare.
No matter, the facts are the facts - K2 Inc. purchased 100% of Penn Fishing Tackle Mfg. Co. - end of story.
P.S. There will be no re-branding of Shakespeare products as Penn and vice versa.
Ermmm....I never misquoted at all,thats what was reported.As an example of what we all know go's on in the corporate World,Ford aquired Jaguar,Jaguar are still there own brand...All but built from cheaper Ford components.
I really couldn't less as to who owns who but when people are comparing quality the truth needs to be told.
Here is quote from Reuters from there company profile list regarding K2.
Marine and Outdoor
K2 sells fishing rods, reels and fishing kits and combos throughout the world. The Company's rods, reels and kits and combos are manufactured principally in China. Shakespeare products are sold directly by K2 and through independent sales representatives to mass merchandisers and sporting goods retailers in the United States, Europe and Australia and through independent and K2-owned distributors in Europe and Australia. K2 sells Stearns and Sospenders flotation vests, jackets and suits (personal flotation devices), cold water immersion products, wet suits, Hodgman waders, outdoor products, rainwear and inflatable and towable water products and Mad Dog hunting and ATV accessories in the United States and in certain foreign countries. It manufactures most of its personal flotation devices in the United States, manufactures certain components and inflatable products in China and sources its other products from Asia. Stearns, Sospenders, Hodgman, Mad Dog and Sevylor products are sold principally through an in-house sales department and independent sales representatives to mass merchandisers, specialty shops and chain stores and to the off-shore oil industry, commercial fishermen and other commercial users through independent sales representatives.
Just wondered in that case when Penn will move production...If it hasnt already happened,shipping Penn reels to the USA in ''Knockdown''to be assembled there?
The full Reuters company profile of K2 can be read here.
http://www.investor.reuters.wallst.com/stocks/company-profile.asp?rpc=66&ticker=KTO
Ron