News Release - Rapala VMC completes 13 Fishing acquisition ENG 21122023
Kurs & Likviditet
Beskrivning
| Land | Finland |
|---|---|
| Lista | Mid Cap Helsinki |
| Sektor | Sällanköp |
| Industri | Resor & Fritid |
NEWS RELEASE
December 21st, 2023
Rapala VMC Corporation has bought James Coble’s remaining 40% shareholding of DQC International, the owner of the 13 Fishing rod and reel brand.
“We have now come full circle and Rapala will enter full-time into the U.S. rod and reel market,” said Lars Ollberg, President and CEO of Rapala VMC Corporation. “Rapala has already set its highly qualified, nationwide sales force on ‘full alert’ to start business January 1!”
“The time is right to start selling this innovative brand as the market slowly normalizes following the Covid uncertainties,” Ollberg added. “13 Fishing already has a proven track record of building a dynamic brand and developing innovative products. In a relatively short time, it has successfully wedged itself into the world’s most competitive fishing tackle market. We thank James Coble for creating 13 Fishing with such passion and wish him all the success in reaching new horizons in his career.”
The 13 Fishing brand and products are unique in that they offer a refreshing alternative to standard market staples. Within this diverse brand portfolio, 13 Fishing offers freshwater and in-shore rods and reels and is a market leader in the dedicated ice fishing market.
The acquisition offers Rapala VMC the opportunity to consolidate 13 Fishing into Rapala USA and continue to strengthen the company’s market position within the U.S. market. Rapala’s global manufacturing and purchasing strength, backed with a proven U.S. distribution center and supply chain, offers retailers world-class service they can count on. In the U.S., Rapala VMC Corporation has one of the largest sales and distribution networks covering every corner of the U.S. market. Utilizing the market expertise and positive relationships fostered by the Rapala USA sales team will clearly place 13 Fishing in the market position it deserves.
This dynamic brand and its innovative products will be driven by Rapala USA’s proven marketing and 13 Fishing’s product development team. Rapala VMC invites retailers to reach out to their Normark U.S. and Rapala sales team representatives to learn more about this exciting new development for Rapala VMC and 13 Fishing.
RAPALA VMC CORPORATION
Lars Ollberg
President and CEO
For further information, please contact:
Tuomo Leino, Investor Relations, tel. +358 9 7562 540
About Rapala VMC
Rapala VMC was unofficially founded in 1936 when Lauri Rapala invented the Rapala fishing lure. Rapala VMC has grown from humble beginnings to become a market leader in the fishing tackle industry. The brand’s functionality and high quality are known by fishermen worldwide. Rapala maintains strict standards of craftsmanship while delivering its fishing products to anglers in more than 130 countries. Visit www.rapala.com.