Moody’s has downgraded Pure Fishing, the company previously owned by the former Jarden Corp. that groups together fishing tackle brands like Abu Garcia, Berkley and Shakespeare. The company’s debt reached 9 times Ebitda last year, after running into a negative cash position following a 6 percent decline in its revenues. While its revolving credit is only maturing in 2024, the rating agency expects that its leverage will increase to 13 times Ebitda this year because of the Covid-19 pandemic.
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News briefsPure Fishing appoints new CEO
The South Carolina-based fishing tackle and outdoor equipment brand Pure Fishing has named Dave Allen CEO, effective immediately. He succeeds Harlan Kent, who is retiring from day-to-day operations to become a board member and consultant. Prior to joining Pure Fishing, Allen was president and CEO of Igloo. Before that, he ...
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Pure Fishing completes acquisition of Plano Synergy, immediately sells hunting brands to GSM
Pure Fishing has announced that it has completed the acquisition of Plano Synergy Holdings . As part of the closing, Pure Fishing has also announced the sale of Plano Synergy’s archery and hunting accessories brands to GSM Outdoors . The move is consistent with Pure Fishing’s strategy that ...
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News briefsPure Fishing acquires Plano Synergy
Pure Fishing , a leading U.S. fishing tackle supplier, has entered into a definitive agreement to acquire Plano Synergy Holdings . Plano Synergy is a Texas-based company founded in 1938 that owns several outdoor brands, including Ameristep , Avian-X , Barnett , Bloodsport , Evolved , Frabill ...