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Details - Information last confirmed on June 21, 2021
Note: Price is highly dependent on deal terms, deal structure, and % of acquisition.
When the owner started this company, very little had improved with landing nets since his grandfather was fishing. The established brands still built nets based on designs that had been around since the 1940s and they had fundamental problems.
The owner wanted to build a product that would solve those problems and a new brand was born from an idea: Through intelligent design and engineering, these new products could make the landing net industry better for the angler, better for the waterways, and ultimately better for the retailer.
Today, the company is a nationally recognized brand distributed in over 2,500 sporting goods retailers including: Amazon, Bass Pro Shops, Gander Outdoors, Scheel's Sporting Goods, Sportsman's Warehouse, Dick’s Sporting Goods, and others. The company has grown from developing that first landing net to offering a full line of fishing accessories (with over 20 product lines under their brand).
Potential buyers will be wondering why the company's revenues declined between 2018 and 2019. This is, in large part, due to unexpected challenges in the retail environment outside of the company's control. These experiences have only served to toughen the company against future retail challenges. In the last year, the company has managed to diversify their customer base to include more local retailers and focused heavily on developing a sophisticated direct-to-consumer marketing program (online sales)—a much larger profit margin opportunity.
The ability to adapt has positioned the company on a trajectory for growth into 2020, and with new products planned for additional markets on the horizon, this company is on the cusp of a truly exciting growth spurt in its history.
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