Previously, we had detailed the plans of Pure Fishing’s parent company, Sycamore Partners, to purchase Plano Synergy, along with all of the company’s assets. Now, additional news has broken, surrounding this acquisition, much of which sheds additional light on Pure fishing’s intent.
It was recently announced that the sale of Plano Synergy to Sycamore Partners was officially completed on April 16th. However, almost simultaneously, Sycamore Partners relinquished control of certain brands acquired during their latest purchase. Under this latest deal, GSM Outdoors agreed to purchase all hunting-related brands acquired by Pure Fishing/Sycamore Holdings, in their take-over of Plano Synergy.
Some of the most notable of these brands included Wildgame Innovations, Flextone, Ameristep, Barnett, and Avian X. Meanwhile, Pure Fishing will retain such brands as Plano and Frabill. This provides some clarity for those questioning the intent and direction of Pure Fishing, which has continued to expand at a rapid pace.
It now appears that Pure Fishing has no plans of jumping into multiple sectors of the outdoor retail industry, instead opting to maintain its focus on fishing-related equipment. Perhaps, this is splendid news, for those who feared that their favorite brands of gear might be lost in the proverbial shuffle.
“This acquisition allows Pure Fishing to continue to build upon its industry-leading position within the fishing industry, something that remains a priority for the company,” said Harlan Kent, Pure Fishing CEO. “By selling the archery and hunting accessories brands to GSM Outdoors, already a leader in the hunting and outdoors industry, we have created great brand alignment for both companies, which allows each of us to play to our own unique strengths.”