Yup, Berkley bought by Rubbermaid

Pure Fishing’s Parent Company Could be Merging with Rubbermaid


 FTR Staff
 
 December 9, 2015
 
 Industry News, Highlights



The Wall Street Journal has reported that Jarden Corp., the parent company of fishing industry giant Pure Fishing, is in merger talks with Newell Rubbermaid, the makers of Sharpie and Rubbermaid food containers.

Pure Fishing is a leading global provider of fishing tackle, lures, rods and reels through multiple brands that include Abu Garcia, All Star, Berkley, Chub, Fenwick, Gulp!, Hardy & Greys, Hodgman, Johnson, Mitchell, PENN, Pflueger, Sébile, Shakespeare, Spiderwire, Stren, Trilene and Ugly Stik. They have a presence in 22 countries worldwide.

The Wall Street Journal reports that Jarden’s market capitalization comes in at $10.5 billion, while Newell Rubbermaid stacks up slightly higher at $12 billion. Shares of both companies are up in the wake of rumors, as Jarden’s have climbed 4 percent, while Newell Rubbermaid is up 7 percent.


Rubbermaid made a brief foray into the fishing industry in the 1990s with the introduction of a series of hard-sided, plastic tackle boxes. However, the boxes are no longer manufactured. In October of this year, Newell Rubbermaid purchased Elmer’s Glue for $600 million.

Representatives from Pure Fishing declined comment.

 FTR Staff
 
 December 15, 2015
 
 Industry News, Highlights









Jarden Corporation, the parent company of tackle giant Pure Fishing, has agreed to be acquired by Newell Rubbermaid Inc. for more than $15 billion in cash and stocks, multiple sources report.

The merger will create a $16 billion consumer goods company called Newell Brands that will encompass not only Pure Fishing brands like Penn, Berkley, Abu Garcia and others, but also additional outdoor brands like Coleman and Marmot.


“The combination of these two great companies creates a $16 billion consumer goods company with incredible potential to grow and create value,” said Michael B. Polk, Newell Rubbermaid President and Chief Executive Officer. “The scale of our combined businesses in key categories, channels and geographies creates a much broader canvas on which to leverage our advantaged set of brand development and commercial capabilities for accelerated growth and margin expansion. I have long respected the value creation track record and entrepreneurial vision of Jarden’s founder, Martin E. Franklin, co-founder Ian G.H. Ashken, and their team led by Chief Executive Officer James E. Lillie. I want to congratulate Jim on his strong leadership of Jarden over the last 12 years and his work positioning the business for the opportunity ahead, and I look forward to working with Martin and Ian as we drive the new Newell Brands towards its aspiration of becoming one of the preeminent consumer goods companies in the world.”

Martin E. Franklin, executive chairman and founder of Jarden, said, “I am delighted that we are to play a part in bringing together these two winning companies. The combination offers significant value for our shareholders and the opportunity to participate in the combined company’s long-term value creation potential as shareholders in Newell Brands. I’m extremely proud of Jarden’s success over the past 14 years, which has been driven by an extraordinary culture designed to perform at a high level.


The Wall Street Journal reports that Franklin could make up to $500 million in the deal. Jarden shareholders would receive $21 in cash per share, and 0.862 shares of Newell Rubbermaid.

The acquisition is subject to shareholder approval from both Newell Rubbermaid and Jarden Corp and, according to SourceOneMedia, is expected to close in the second quarter of 2016.

The merger incorporates many household brands outside of the tackle industry such as: Sharpie, Paper Mate, Elmer’s, Rubbermaid, Graco, Mr. Coffee, Rawlings and Yankee Candle.

The merger will create a $16 billion consumer goods company called Newell Brands

Newell???
Just try to get parts.