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Pure Fishing

From EverybodyWiki Bios & Wiki




Pure Fishing
Private
ISIN🆔
IndustryFishing tackle and equipment
Founded 📆1937
Founder 👔
Area served 🗺️
Worldwide
Products 📟 Fishing rods, reels, lines, lures, terminal tackle
BrandsMultiple fishing tackle brands, including Abu Garcia, Berkeley, Fenwick, Hardy, Mitchell, Penn, Pflueger, Shakespeare, Savage Gear, Ugly Stik
Revenue🤑 $545 million (2020)[1]
Members
Number of employees
1,577[2]
ParentSycamore Partners
🌐 Websitewww.purefishing.com
📇 Address
📞 telephone

Pure Fishing, Inc. is an American fishing tackle designer and distributor, tracing its origins to Berkley Fly Company, which was founded by Berkley Bedell in Spirit Lake, Iowa in 1937.[3][4] The company owns a portfolio of major fishing tackle brands including Shakespeare, Pflueger, Abu Garcia, Penn, Fenwick, Hardy, Ugly Stik, several of which trace their history to the 19th century.[5] Market research shows that Pure Fishing, alongside Shimano and Globeride (Daiwa), are among the few dominant multinational companies that collectively lead as the "top tier" of the sportfishing industry,[6] and market analysts, including Moody's and Goldman Sachs have acknowledged the company's strong international exposure and that its brands are well recognized among fishing enthusiasts.[7][8]

In the past decades, the company's acquisition and financial affairs have been a recurring subject of coverage in international media and financial analysts. In 2006, the company operated in 19 countries and had a reported revenue exceeding $250 million.[7] In 2007, Reuters reported it was acquired by Jarden Corporation for over $300 million in cash, plus $100 million in 5 year notes. In 2019, the company was acquired by New York-based private equity firm, Sycamore Partners from Newell Brands in a transaction valued at approximately US$1.3 billion, becoming a privately held division.[9][10][11] In 2020, Moody's disclosed the company had a revenue of $545 million.[4] In the same year, Bloomberg reported that the company was experiencing some financial difficulties and potentially facing bankruptcy, in part due to raising their debt load to purchase European fishing supplier Svendsen Sport A/S, despite product sales rising during the COVID-19 pandemic.[12] In 2024, Bloomberg reported that Pure Fishing completed a US$750 million refinancing of its debt; resulting in S&P Global to withdraw its credit ratings, stating the company no longer has any outstanding rated debt and did not view the debt restructuring as a default under its methodology.[13]

History

Under the Berkley Bedell family (1937–2007)

Pure Fishing traces its direct origins to the Berkley Fly Company, founded in 1937 by Berkley Bedell in Spirit Lake, Iowa. Whilst still in highschool and during the Great Depression, Bedell started with tying fishing flies using dog hair and feathers, and selling them to local tackle shops. His small student operation later employed other students and expanded into wire leaders and additional tackle products.[14][15][16][17]

After serving in the United States Army Air Corps during World War II, Bedell formally established the Berkley & Company in 1945, which initially produced nylon-coated wire leaders.[18][19] The company later introduced Trilene monofilament fishing line in 1959, and diversified into fishing rods during the 1960s, and expanded to selling to the international markets in the 1970s.[14][20][19]

After Berkley Bedell was elected to the U.S. House of Congress in 1974, he handed leadership of the company to his son, Tom Bedell. In 1988, the company was named Outdoor Technologies Group. In 2000, the company was later renamed Pure Fishing and by this time, the company owned numerous other established tackle brands consolidated under a single corporate structure.[14][21]

Jarden and Newell Brands ownership (2007–2019)

Pure Fishing was acquired in 2007 by Jarden for approximately $400 million. MarketWatch reported that Goldman Sachs recommended the purchase to Jarden. Analyst Amy Low Chasen writing on behalf of Goldman Sachs, stated, "Pure Fishing has strong international exposure and more importantly presence in specialty retail distribution channels, which Coleman should ultimately be able to leverage. We believe Jarden is targeting several more tuck-in acquisitions over the next few months consistent with their stated strategy".[22][23][24]

In March 2009, the company reportedly opened its Australian headquarters at Tuggerah, New South Wales. The facility was officially opened by NSW minister of planning, Kristina Keneally on 27 March and consists of a 7,000 square metre office, warehouse and distribution centre, built at a cost of $13 million.[25]

In 2013, the Financial Times reported that Pure Fishing acquired Hardy & Greys, a historic British fishing tackle company that was described as Prince Charles’s fishing rod maker, and holds a Royal Warrant of Appointment from The Prince of Wales, and previously held 10 UK royal warrants in the past century.[26][27] In 2018, following Jarden's merger with Newell Rubbermaid, Pure Fishing, along with other brands owned by Jarden, became part of Newell Brands.[28]

Acquisition by Sycamore Partners (2019-current)

In January 2019, Newell Brands sold Pure Fishing to New York based private equity firm, Sycamore Partners, in a transaction valued at approximately US$1.3 billion.[29][9][30] In February 2022, Pure Fishing made a transaction valued around $153.4 million in cash, to acquire Svendsen Sport, a Denmark based company that holds many European fishing tackle brands such as Savage Gear, Prologic, MadCat, WaterWolf and DAM.[31] As a result of the acquisition, Pure Fishing added over 180 additional employees to its European operations.[32][33][34][35]

In 2020, Moody's upgraded the company's corporate family rating from CRF to Caa1 with a stable outlook. They stated the rating reflects the company's "strong market presence" in their industry and that its portfolio of brands are both long established and widely recognized among "fishing enthusiasts".[8]

In 2021, Pure Fishing issued around $205 million of first-lien term loans, and $50 million of unrated second-lien term loans, in order to reach funding to acquire Plano Synergy Holdings Inc, a company that manufactures outdoor recreational products in the hunting, archery and fishing market. It shortly later sold Plano's hunting and archery brands for around $75 million. For the $205 million first lien loan, S&P global published a report that rated it as CCC+.[36][37]

In 2022, Moody's made an Investors Service note that stated Pure Fishing had an "unsustainable capital structure". Bloomberg News suggested that the company was at risk of bankruptcy due to it increasing their debt load to acquire Svendsen Sport, despite their product sales have increased during the COVID-19 pandemic.[12] In 2024, Bloomberg News reported that Pure Fishing reached a US$750 million refinancing deal on its debt with Monarch Alternative Capital and Silver Point Capital.[38][39] S&P Global reported that they have removed all its ratings on the company, including the CCC+ rating, as they have determined the company doesn't have any outstanding rated loans, and a restructuring of one of its debts is not considered by them as a default.[40]

Brand Portfolio

Through acquisitions and organic growth, Pure Fishing owns a portfolio of widely recognized fishing tackle brands, encompassing historical names as well as more recent acquisitions.[41][8]

  • Abu Garcia – globally recognized fishing reel brand.[42][43]
  • Berkley – originally known for fishing lines like Triline, and also manufactures lures.[19][43]
  • Fenwick – early pioneer in manufacturing fiberglass rods, and one of the first to introduce graphite rods in 1973.[44]
  • Hardy – historic fly-fishing brand founded in 1872 in the United Kingdom.[45][27]
  • Hodgman – fishing apparel and waders.[46]
  • Hooker Reels – high end electric reels made from aircraft-grade aluminium, and designed for saltwater gamefishing.[47]
  • Johnson – trolling motors and boat accessories.
  • JRC – Founded in 1915, a supplier of electronics and marine equipment, catering to commercial fishing, shipping and support vessels.
  • Mitchell – reels and rods for freshwater fishing.
  • Plano – tackle storage and organizational products.[48]
  • Rob Gaden - tropical and freshwater fishing lures lineup based in Australia.[49]
  • Shakespeare – historic brand for rods and reels.[50]
    • All Star – bait and tackle equipment.
    • Penn – well-known saltwater and freshwater reels.
    • Pflueger – historic reels and rods.
    • Ugly Stik – popular rods for beginner and experienced anglers.
  • Sebile – premium lures.[51]
  • SpiderWire – fishing lines and braid technology.[52][53]
  • Stren – monofilament line brand introduced in 1958.[54]
  • Svendsen Sport – European fishing tackle group acquired in 2022.[55][56][57][58]
    • DAM – predator fishing lures.
    • MadCat – catfish-specific tackle.
    • Prologic – European fishing tackle.
    • Savage Gear – fishing reels, lures and rods.[59][60][61]
    • WaterWolf – predator fishing equipment.
  • Van Staal – saltwater reels and gear.[62]

Awards and recognition

Pure Fishing brands have won multiple industry awards at the annual International Convention of Allied Sportfishing Trades (ICAST), the world's largest sportfishing trade show hosted by the American Sportfishing Association (ASA) in Orlando, Florida.[63][64]

ICAST 2021

Pure Fishing won five Best-of-Category awards, including:[65]

  • Grey’s Tital for Fly Reel
  • Abu Garcia Veritas for Baitcast Combo
  • Abu Garcia Zenon for freshwater rod
  • Berkley Choppo for saltwater lure
  • Berkley PowerBait for Gilly soft lure

Other multiple-award winners of that event included Japanese brand Daiwa.

ICAST 2022

Pure Fishing lead all companies with their nine Best-of-Category wins, and one Anglers' Choice Award with brands including:[66]

  • Berkley Slobberknocker winning both freshwater hard lures and the Anglers' Choice Award[67]
  • Berkley PowerBait PowerStinger for soft lures
  • Frabill aerator for boating accessories
  • Frabill Witness Weigh Net for fishing accesy
  • SpiderWire for fishing line
  • Plano for tackle management
  • Ugly Stik for saltwater rod
  • Hardy Fortuna Regent Fly Reel for fly reel/accessory
  • PENN for saltwater reel

ICAST 2024

Pure Fishing won five Best-of-Category awards, one Best-of-Show award, and one Anglers' Choice Award including:[68][69]

  • PENN Fathom Electric saltwater reel for both saltwater reel and Best-of-Show award[69][70]
  • Ugly Stik GX2 spinning rod for both freshwater rod and Anglers’ Choice Award.[67][64]
  • Berkley Krej for freshwater hard lure
  • Hardy Averon for fly reel
  • Shakespeare Cedar Canyon for fly combo

See also

References

  1. ↑ "SP PF Buyer LLC -- Moody's upgrades Pure Fishing's CFR to Caa1; outlook stable". Yahoo Finance. Retrieved 2025-12-29.
  2. ↑ "Pure Fishing 2025 Company Profile: Valuation, Funding & Investors | PitchBook". pitchbook.com. Retrieved 2025-12-28.
  3. ↑ "Pure Fishing Inc - Company Profile and News". Bloomberg.com. Retrieved 2025-12-27.
  4. ↑ 4.0 4.1 "Jarden acquires Pure Fishing". Reuters. Retrieved 2025-12-27.
  5. ↑ Nowels, Morgan (2025-03-12). "Pure Fishing Opens New Showroom, Makes Big Announcement". GearJunkie. Retrieved 2025-12-28.
  6. ↑ "Sports Fishing Equipment Market Outlook 2025-2032". www.intelmarketresearch.com. Retrieved 2026-01-12.
  7. ↑ 7.0 7.1 "Jarden to acquire Pure Fishing for $300 million". MarketWatch. Archived from the original on 2013-09-07. Retrieved 2026-01-12.
  8. ↑ 8.0 8.1 8.2 "SP PF Buyer LLC -- Moody's upgrades Pure Fishing's CFR to Caa1; outlook stable". Yahoo Finance.
  9. ↑ 9.0 9.1 "Newell Brands sells Pure Fishing to Sycamore Partners for $1.3 billion | Experience". www.jonesday.com. Retrieved 2025-12-27.
  10. ↑ Sills, Joe (2018-05-05). "Newell Brands Plans to Sell Pure Fishing - Fishing Tackle Retailer - The Business Magazine of the Sportfishing Industry". Retrieved 2025-12-28.
  11. ↑ "Private Equity | Sycamore Partners | January 07 2019". www.sycamorepartners.com. Retrieved 2025-12-28.
  12. ↑ 12.0 12.1 "DISTRESSED DAILY: Pure Fishing Seeks to Continue Pandemic Demand". Bloomberg News.
  13. ↑ "Monarch, Silver Point Lead Private Debt for Fishing Retailer". Archived from the original on 2024-10-27. Retrieved 2026-01-12.
  14. ↑ 14.0 14.1 14.2 "Berkley Bedell". The Bass Fishing Hall Of Fame. Retrieved 2025-12-28.
  15. ↑ "Former longtime Iowa congressman dies". weareiowa.com. 2019-12-08. Retrieved 2025-12-28.
  16. ↑ "Bedell, founder of Berkley, dies at 98". Bassmaster. 2019-12-11. Retrieved 2025-12-28.
  17. ↑ Opsahl, Robin. "Berkley Bedell, former Iowa U.S. representative, remembered for work in politics, entrepreneurship". The Des Moines Register. Retrieved 2025-12-28.
  18. ↑ "Bioguide Search". bioguide.congress.gov. Retrieved 2025-12-28.
  19. ↑ 19.0 19.1 19.2 "The history of Berkley Fishing". Bassmaster. 2018-10-28. Retrieved 2025-12-28.
  20. ↑ "The Evolution of Fishing Line: From Ancient to Modern". The History of Sportfishing. 2024-10-03. Retrieved 2025-12-28.
  21. ↑ Bowman, barbara (2019-12-10). "Bass Fishing Hall of Famer Berkley Bedell Dies At 98". The Bass Fishing Hall Of Fame. Retrieved 2025-12-28.
  22. ↑ "Jarden acquires Pure Fishing". Reuters. Retrieved 2025-12-27.
  23. ↑ "Jarden shares hit record high after upbeat outlook". Reuters. Retrieved 2025-12-27.
  24. ↑ "Jarden to acquire Pure Fishing for $300 million". MarketWatch. Archived from the original on 2013-09-07. Retrieved 2026-01-12.
  25. ↑ World, Fishing (2009-03-30). "Pure Fishing opens new centre". Fishing World Australia. Retrieved 2026-01-12.
  26. ↑ "US group reels in Prince Charles's fishing rod maker". Financial Times. Retrieved 2025-12-27.
  27. ↑ 27.0 27.1 Staff (2013-07-02). "US fishing rod firm reels in 140-year-old British rival". The Guardian. ISSN 0261-3077. Retrieved 2025-12-28.
  28. ↑ "Newell Rubbermaid, Jarden Corp. combine to create $16-billion consumer". Archived from the original on 2025-02-19. Retrieved 2025-12-28.
  29. ↑ "Newell Brands to sell Pure Fishing and Jostens for about $2.5 billion". Reuters. Retrieved 2025-12-27.
  30. ↑ "Private Equity | Sycamore Partners | January 07 2019". www.sycamorepartners.com. Retrieved 2025-12-28.
  31. ↑ "Pure Fishing paid $153.4 million for Svendsen Sport". Tackle Trade World. 2022-04-29. Retrieved 2026-01-12.
  32. ↑ "Pure Fishing Acquires Svendsen Sport". www.rwbaird.com. Retrieved 2025-12-27.
  33. ↑ STAFF. "Pure Fishing Acquires Savage Gear And Other Svendsen Sport Brands". The Fisherman. Retrieved 2025-12-27.
  34. ↑ Hunter, John (2022-02-08). "Pure Fishing acquires Svendsen Sport". Angling Trades Association. Retrieved 2025-12-28.
  35. ↑ "Pure Fishing Acquires Svendsen Sport". 2022-02-03. Retrieved 2026-01-12.
  36. ↑ "Pure Fishing's Debt Ratings Affirmed Following Acquisition And Incremental Debt Issuance | SGB Media Online". sgbonline.com. Retrieved 2026-01-12.
  37. ↑ Wire, FTR Industry (2021-04-16). "Pure Fishing Announces The Close of Purchase for Plano Synergy Holdings Inc. - Fishing Tackle Retailer - The Business Magazine of the Sportfishing Industry". Retrieved 2026-01-12.
  38. ↑ "Monarch, Silver Point Lead Private Debt for Fishing Retailer". Bloomberg Law.
  39. ↑ Hawkswell, Anthony (2024-10-24). "Pure Fishing refinances its full $750m debt". Angling International. Retrieved 2026-01-12.
  40. ↑ "Pure Fishing Inc. Ratings Withdrawn Following Repayment Of Debt". S&P Global.
  41. ↑ Lassagne, Mark (2022-02-02). "Pure Fishing Acquires Svendsen Sport and Savage Gear". Retrieved 2025-12-28.
  42. ↑ Lassagne, Mark (2022-02-02). "Pure Fishing Acquires Svendsen Sport and Savage Gear". Retrieved 2025-12-28.
  43. ↑ 43.0 43.1 "Q & A with Pure Fishing CEO Neil Eibeler". Bassmaster. 2018-06-15. Retrieved 2026-01-12.
  44. ↑ Klaas, Mark (2019-06-20). "Catching the history of famed Fenwick's roots". Kent Reporter. Retrieved 2026-01-12.
  45. ↑ "US group reels in Prince Charles's fishing rod maker". Financial Times. Retrieved 2025-12-27.
  46. ↑ Bonavist, Tony (2021-04-21). "My great fishing wader dilemma". The River Reporter. Retrieved 2026-01-12.
  47. ↑ mag, Bush 'n Beach Fishing (2023-12-07). "Penn Hooker Electric International Standard Reel". Bush 'n Beach Fishing Magazine. Retrieved 2026-01-12.
  48. ↑ Nowels, Morgan (2025-06-12). "Modular Tackle Box Lets You Focus on Fishing: Plano Guide Series StowAway Rack System". GearJunkie. Retrieved 2026-01-12.
  49. ↑ "Pure Fishing Acquires Cutting Edge Lures | SGB Media Online". sgbonline.com. Retrieved 2026-01-12.
  50. ↑ Reports, From News (2007-01-22). "Shakespeare Fishing Tackle Acquires Penn Fishing Mfg. Co". Carolina Sportsman. Retrieved 2025-12-28.
  51. ↑ World, Fishing (2011-02-24). "Sebile Lures". Fishing World Australia. Retrieved 2026-01-12.
  52. ↑ Erlich, Jason (2014-10-16). "Tested: Spiderwire 2014 braided lines". Fishing World Australia. Retrieved 2026-01-12.
  53. ↑ Smith, Walker (2023-01-12). "SpiderWire DuraBraid Braided Line Review". Wired2Fish. Retrieved 2026-01-12.
  54. ↑ "Stren Original Nylon Monofilament Fishing Line Product Review". www.tackletour.com. Retrieved 2026-01-12.
  55. ↑ Lassagne, Mark (2022-02-02). "Pure Fishing Acquires Svendsen Sport and Savage Gear". Retrieved 2025-12-28.
  56. ↑ STAFF. "Pure Fishing Acquires Savage Gear And Other Svendsen Sport Brands". The Fisherman. Retrieved 2026-01-12.
  57. ↑ "Restructure for Pure Fishing in German market". Tackle Trade World. 2024-04-08. Retrieved 2026-01-12.
  58. ↑ "Pure Fishing Acquires Svendsen Sport". 2022-02-03. Retrieved 2026-01-12.
  59. ↑ "Savage Gear LRF Rod Series | Fishing Product Reviews". Fishing Mad. Retrieved 2026-01-12.
  60. ↑ Smith, Ken (2014-02-16). "TESTED: Savage Gear Yabby". Fishing World Australia. Retrieved 2026-01-12.
  61. ↑ "Savage Gear Stealth Spinning Reels | Fishing Product Reviews". Fishing Mad. Retrieved 2026-01-12.
  62. ↑ "Why You Should Buy a Van Staal Reel: The Ultimate Tool for Serious Fis". The Mighty Fish. 2025-06-09. Retrieved 2026-01-12.
  63. ↑ "What Is ICAST and Why You Should Care". Game & Fish.
  64. ↑ 64.0 64.1 "Pretty win for Ugly Stik GX2". Tackle Trade World. 2024-09-13. Retrieved 2026-01-12.
  65. ↑ "ICAST 2021 Best-of-Category Fishing Gear Winners Named". Game & Fish.
  66. ↑ Game & Fish Staff (2022-07-20). "Who Were the Category Winners at ICAST 2022? - Game & Fish". Game & Fish. Archived from the original on 2025-09-10. Retrieved 2026-01-12.
  67. ↑ 67.0 67.1 Wire, FTR Industry (2024-09-12). "The 2024 Anglers' Choice Winner Is…. - Fishing Tackle Retailer - The Business Magazine of the Sportfishing Industry". Retrieved 2026-01-12.
  68. ↑ Fish, Game & (2024-07-17). "Who Won Best of Category Awards at ICAST 2024? - Game & Fish". Game & Fish. Archived from the original on 2025-12-30. Retrieved 2026-01-12.
  69. ↑ 69.0 69.1 "Pure Fishing Takes Home Most Prestigious Award in the Fishing Industry - ASA". 2024-07-18. Retrieved 2026-01-12.
  70. ↑ "ICAST awards the best of the best to the fishing industry". The Republic News. 2024-07-19. Retrieved 2026-01-12.


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