Wednesday, February 21, 2007

Jan 25 2007, Shakespeare buys Penn

From the
Shakespeare Fishing Tackle has acquired the Penn Fishing Tackle Manufacturing Co., according to a news release from Shakespeare, the Columbia, S.C.-based fishing-gear manufacturer.
Founded in 1932, Philadelphia-based Penn is the market leader in saltwater trolling and spinning reels and saltwater rods.

Among the company's products are the Penn International, Senators, GT and GTO trolling reels, as well as Slammer and Spinfisher SSM and SSG spinning reels.

"For 75 years, Penn products have been the gold standard for offshore, inshore and surf fishing," said Scott Hogsett, the president of Shakespeare, which is owned by K2 Inc. "... The Penn name is one of the greatest brands in fishing but has lacked the resources to grow and develop markets.

"Our volume and economies of scale will allow us to reinvest in the brand and grow market share."

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