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Pure Fishing Announces the Purchase
of Stren Fishing Lines
Spirit lake, Iowa, Feb. 10, 2004 -
Pure Fishing announced that it has purchased the fishing related assets of Remington Arms Company, Inc., including the popular Stren brand, effective Feb. 10, 2004.

Purchase of the Stren fishing business, headquartered in Madison, North Carolina, includes both U.S. and International operations.

According to company sources, adding the Stren brand to its lineup of fishing tackle products in consistent with the strategy Pure Fishing has pursued over the last 15 years, bringing together ever popular brands and companies that have defined fishing tackle for the world's 125 million anglers and improving these products and expanding their sales. Brands Pure Fishing has acquired include Abu Garcia, Mitchell, Fenwick, Johnson, Spider, and Sevenstrand.

"At Pure Fishing we are passionate about advancing the performance and value of fishing tackle to help anglers have even more fun catching more fish. Stren has been a pioneer in new fishing line technology for decades. Combining the Stren brand with our already strong capabilities in product innovation will further advance the performance we can deliver to anglers. The strategic fit is excellent, as we bring enhanced efficiency to the market place in terms of sourcing, manufacturing, servicing, merchandising and shipping. We will be able to deliver better performing products at a better value to anglers worldwide. That is the magic in the whole Stren acquisition. Being able to deliver exceptional consumer value," Tom Bedell, Chairman of the Board of Pure fishing, said.

Bedell went to to say, "Fishing is America's third most popular outdoor recreational activity. Only walking and swimming have greater participation. Our company slogan "Live to Fish" is more than a business geared towards a popular activity. It's everything we are. Our passions. Our goals. Our dreams. All that we do is centered on fishing. Pure Fishing's mission of building the world's best fishing tackle company represents a total commitment to the future of fishing and iwth the acquisition of Stren that commitment has never been stronger."

Tommy Milner, President and CEO of Remington Arms Company, Inc. said, The divestiture of the Stren brand is consistent with Remington's focus on its core businesses of hunting, shooting sports, and law enforcement and military markets. This transaction provides Remington with significant flexibility to pursue a number of strategic alternatives in these markets and gives Pure Fishing a dynamic brand to add to their fishing tackle portfolio."

Pure Fishing has followed a long tradition of continual growth established by the company's founder, Berkley Bedell, back in 1937. Recent growth, under the leadership of Tom Bedell, the founder's son has accelerated. Growth over the past decade has come as a result of acquisitions, new business start-ups, and the introduction of innovative products the company says.

 

 

 

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