Plano and Frabill join forces
Category: npaa
Jun 25th, 2012 by OutdoorsFIRST
Modified Jun 25th, 2012 at 12:00 AM
PLANO, Ill. (June 18, 2012) – Plano Molding Co. and Frabill Inc. have announced that they are joining forces, uniting two iconic fishing tackle brands that have been serving anglers and outdoor enthusiasts for more than 70 years. The transaction, whereby Plano will acquire Frabill, brings together under one roof the worldwide leader in fishing tackle storage systems and the North American leader in live bait storage, landing nets and portable ice fishing shelters and related accessories.
“The Frabill product line has achieved significant brand equity in the 29 years of ownership by the Marble family. To accomplish the future growth objectives of the company, we sought a partner that could provide the necessary resources while maintaining the core values of service and quality our customers have come to expect,” said Jeff Marble, CEO of Frabill. “Plano’s excellent reputation with both fishermen and our retail partners made the decision an easy one. We are extremely excited to become part of Plano and we look forward to what we can achieve together in the years to come.”
“Frabill and Plano are a perfect fit – like peanut butter and jelly,” said Tom Hurt, Plano president and CEO. “We serve the same customers and our products sit next to each other on the store shelf. More importantly, our companies share common core values, which include world-class customer service and an uncompromising dedication to product quality. Together, we will continue to drive excitement and excellence into our categories by introducing innovative products for many years to come.
“A combination with Frabill advances our long-term strategy of broadening Plano’s focus on fishing and hunting storage products with complementary brands and product categories,” Hurt added.
Frabill’s shareholders were advised by Joe Froehlich of Corporate Financial Advisers and William Soderstrom of Fox, O’Neill & Shannon. Michael Lusk of McGuireWoods LLP acted as legal counsel to Plano.