Pure Fishing acquisition by Newell Brands completed.

Newell Brands has completed its acquisition of Newell Rubbermaid and the owner of Pure Fishing, the Jarden Corporation.

Originally posted in Angling International

The $15.4 billion transaction, which was announced in December last year, has created a $16 billion consumer goods company that includes some of the world’s best known brands, including Yankee Candle, Graco, Irwin, Rawlins, Coleman and in recreational angling, the Pure Fishing stable of companies. The new business has been renamed Newell Brands Inc. and will continue to be listed on the New York Stock Exchange.

“The combination of our two great organisations creates a powerhouse consumer goods company and sets up a very exciting long-term growth and value creation company,” said Michael Polk, Newell Brands Chief Executive. “I am honoured to have the opportunity to lead Newell Brands and the development of our business. We expect Newell Brands to unlock far greater upside than either company could have done on their own.

“Our immediate focus will be to deliver our 2016 financial objectives, start the work of integrating the two companies and develop long-term corporate and portfolio strategy that will guide the choices we make and the realisation of the company’s full potential.”

For the balance of 2016 the operating structure will remain largely unchanged with Jarden and Newell Rubbermaid commercial operations running alongside each other. William Burke will serve as President of the Jarden Group and will lead the business, working closely with Richard Sansone, Chief Operating Officer.

Martin E. Franklin, Founder and former Chief Executive of Jarden, and Ian Ashken, Co-Founder and former Vice Chairman of Jarden, have joined the Newell Brands Board of Directors.

Nautique (Correct Craft) Acquires Bass Cat and Yar-Craft Boats

Boat Industry is Quickly Shrinking.

(Official Press Release)

Today our family grew and we could not be more excited. Nautique’s parent company, Correct Craft, acquired both Bass Cat and Yar-Craft – the two premier freshwater fishing brands in the boating industry.

Bass Cat is the industry’s highest quality bass fishing boat and, during the years JD Power surveyed boating customers, Bass Cat was the highest quality boat in the ENTIRE boating industry! Yar-Craft is the industry’s highest quality walleye fishing boat and both brands are known for outstanding customer service. So, as you can see, they will fit right in with our family!

Bill and Rick Pierce after closing. 

Both Bass Cat and Yar-Craft have great organizational cultures and Ron and Jan Pierce and their family (the prior owners) have done a great job leading them and building these brands. Over the past year I have grown to significantly respect the Pierce family and I am thrilled to announce that Rick Pierce, the founder’s son, has agreed to stay on as President of both brands. The Bass Cat and Yar-Craft boats are built by loyal and hardworking employees in Mountain Home, Arkansas and we have no plans to change either the team or location. We bought these brands because they are already great brands with great teams!

Nautique’s parent company, Correct Craft, has been making waves in our industry the past few years with growth and acquisitions. People often ask us about Correct Craft and our various companies and organization so, below is a brief summary that will help everyone keep the players straight:

• Correct Craft is the parent company of all the other companies and brands. I am honored to serve as CEO of Correct Craft.
• Nautique is the company most known as being part of Correct Craft. Nautique builds the world’s best ski and wake boats and sells them in sixty-seven countries around the globe.
• Bass Cat is the bass fishing industry’s highest quality boat. It has a forty-year heritage built by the Pierce family.
• Yar-Craft is the world’s premier walleye fishing boat.