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PURE FISHING / PENN FISHING SOLD

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Wild guess but between penn and abu there are about 12 different spinning reel lines. I imagine a PE guy is gonna wonder why and look to consolidation. So a slammer and a revo become the same reel with a different name. Probably cut out 3 or 4 product lines and everything made in China. 

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1 hour ago, Alferd Packer said:

Gritting my teeth on this one. I don’t see clear alignment between Sycamore’s current portfolio and Pure Fishing. I might have overlooked something but I didn’t see any manufacturing, and nothing outdoors oriented. 

 

I saw lots of apparel, and we know where that’s made.

That’s a good point. Although most of the penn products are made in China already so that’s nothing new. I also can’t make sense of this one either. 

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Granted I don't do deep sea, but if I had a choice between a $900 international made in China and a $950 accurate usa,  guess which I'd get. Pretty sure the higher end stuff would die off. 

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32 mins ago, EricDice said:

That’s a good point. Although most of the penn products are made in China already so that’s nothing new. I also can’t make sense of this one either. 

Yeah, I can imagine that some consolation is in the works. That and running a more efficient supply chain.

 

Given that so much of their business is apparel, both retail and supply chain, I could see them extending one or two of the brands in this direction. Maybe not a bad idea, I could see buying a Penn shirts or jeans. On the other hand, maybe they’ll go the way of A&F, from big game hunting and fly fishing, to making undies for 13-year old girls!!!

 

Or, bring really cynical, they’ll just run the companies deep into debt paying for services from other brands in the portfolio then put ‘em into bankruptcy. And Bob’s your uncle!

Edited by Alferd Packer

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51 mins ago, gary.Hb said:

Hey, Jeff did you know John Doerr from Kleiner Perkins was CEO of Penn. 

I did not!

 

Hmmmm, you don’t **** with John Doerr!

 

But in the other hand, I think you need to show me proof of his CEO-ship. Penn would be pretty small potatoes for him.

Edited by Alferd Packer

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Private equity firms have done a great job creating a  false perception that they are coming in to save a company from bankruptcy. There have not been many retail success stories. Let’s see how much debt they saddle Pure with. Things don’t end well for companies if they have a few underperforming quarters.

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23 hours ago, Belmo said:

I didn't post anything here, because I like the guys on Hunting Park Avenue, but Newell has been trying to unload Pure fishing, and the related brands (Berkley, Penn, Abu, etc.) for a while. I read something about it a few months ago, either in The Wall Street Journal or on the back of a box of Froot Loops. The desire to unload Pure evidently stemmed from another merger, this one the acquisition of Jarden, Penn/Pure's former corporate overload, by Newell Brands. I think I need a scorecard to keep track of this Corporate Bingo.

We're going to have to see where this goes for Penn, but until I see evidence otherwise, I'll remain optimistic, about the future of both the Penn brand and the factory in Philly. Pure Fishing appears to have been bought by a private equity firm, and that could end up being a very good thing, both for the company and for anglers (it could also end up being a very bad thing, but I'm going to hope for the best).

 

So, they wanted to do what they did, and its either a good thing or a bad thing, with the Philly factory either staying open or not.

 

 

Edited by 55555s
typo

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Jeez, just when Penn was truly starting to get its poop in a group. Bring back the Craptiva and sell them at Hot Topic & Forever 21? :eek: 

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couple quotes from alan tani site:

1. Mine :

Quote

Serius industry needs stability.
Those turnovers can`t be good for any complex tool manufacturers.

 

2. Markt :

Quote

I don't know that those conglomerates have much day to day involvement in the companies they own.  Probably just some corporate functions filing different reports.  I've worked for companies owned by conglomerates and when we were sold off it made no difference to us.  If they are treated as a division of a larger company it's a big deal if the parent handles payroll, financing, etc.

 

3. Ron Jones :

Quote

The issue is the fact that it is an equity firm. Those guys literally shut down things to make 50 cents. Their isn't even a look at what the future holds often because they turn over companies so quickly. I'm thinking the bg names are fine, but some of the little guys have a possibility of getting swallowed up.
The Man

 

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Could care less who bought the company....lol. Instead of looking at all the corporate big shots, ceo’s, and executives, I choose to pay attention to all the hardworking people who make Penn the quality company that it is. Mike, Ben, Tony, all the designers and engineers who are hands on when it comes to designing, manufacturing, and marketing the product. These are the people that make the Penn Company. These are the People that are commited to building quality products, and these are the people that make me feel confident in buying the product, not the dildos on the top....Ha!

 

Sales will continue to grow because Penn produces high quality at great value. Also, Penn is one of the few company’s left who still haven’t sold out completely to China, but even some of there Chinese built offerings such as the Slammer 3 easily best models from other companies costing hundreds more. There US built models are second to none. 

 

I just ordered up 2 new SSVI longcasts. No second thoughts here.

 

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