Mustad announces surprise purchase of LIVETARGET

 Originally posted in Angling International 

Speaking exclusively to Angling International, Kenni Riise (below), CEO of the iconic Norwegian company, says that the acquisition of the Canadian business proves that Mustad is ‘serious’ in its growth ambitions and the addition strengthens its stance within the sportfishing industry.

“Mustad has been on the look-out for strong brands with high potential to expand the selection of different quality brands and products in each product group within the trade. We feel that LIVETARGET meets these expectations and more and will support our ambition of becoming a multi-brand powerhouse.

“Not only does LIVETARGET offer premium baits for both fresh and saltwater, it is led by passionate anglers with direction and experience that aligns with our goals and core values. The team there has proved to possess a lot of experience within our focus markets and will be a key asset in our innovation and development processes.”

LIVETARGET joins a group that includes line brand TUF-Line, which joined the Mustad stable in June 2019. Riise says: “We have ambitious and financially strong owners driving us to continuously be on the search for the right brands and people to support our growth strategy and journey of the company.

“We value strong brands with high growth potential that can support the execution of our strategy either by adding new categories, distribution or innovation competences.”