Jarden Corporation announced in late April that it agreed to purchase K2 Inc., owners of such fishing tackle icons as Shakespeare, Pflueger, Penn, Stearns, and Worth. Just last week, the deal was finalized by K2's board of directors. and the firm has made a tender offer to purchase all outstanding notes in preparation for the purchase. The tender offer is due to expire at 11:59 p.m. EST on 14 August 2007, and presumably soon after the purchase by Jarden will be finalized.
Jarden of Vashon Island, Washington--the 585th largest company in America according to Forbes--owns a huge number of household brands including Mr. Coffee, Sunbeam, and Crock-Pot. It began as a ski company and is now poised to become one of the sporting goods giants in America.
Jarden is no stranger to fishing tackle, having already purchased such luminous names in fishing history as Abu Garcia®, Berkley®, Fenwick®, Stren® and Trilene®.
Here is a breakdown of the firm's finances by Reuter's. Jarden Corp., has 20,000 employees. Click Here for a breakdown of K2's finances.
More news of the merger can be found at:
Business Wire and Snow Media.
Another chapter in the histories of Pflueger, Penn, Shakespeare, Abu-Garcia and others begins! I for one am holding out hope for a whole line of Crock-Pot brand casting reels.
-- Dr. Todd
K2 Inc. Home Page
Jarden Inc. Home Page