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NEWS RELEASE


Shakespeare Fishing Tackle Division January 17, 2007
3801 Westmore Drive
Columbia, SC 29223
(803) 754-7000



SHAKESPEARE FISHING TACKLE ACQUIRES PENN FISHING MFG. CO.,
A LEADING SALTWATER REEL COMPANY


For Immediate Release
Columbia, SC – Shakespeare Fishing Tackle, a leading manufacturer of fishing rods, reels, fishing line and accessories is pleased to announce the acquisition of Penn Fishing Tackle Mfg. Co. Founded in 1932, Penn is the market leader in saltwater trolling and spinning reels and saltwater rods.

These products include the famous 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,” according to Scott Hogsett, President of Shakespeare. “Shakespeare is excited to be able to add Penn’s broad assortment of saltwater products to complement the current Shakespeare, Pflueger and All Star freshwater, inshore and saltwater offerings.”

“We look forward to bringing to Penn the vast new product introductions and innovation that our customers have come to expect from Shakespeare and Pflueger each year. 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.”

Shakespeare is a K2 Inc. company, a premier branded consumer products company with a portfolio of leading brands.

For more information, contact Mark Davis, Director of Advertising and Public Relations for Shakespeare Fishing Tackle, at (803) 754-7000 x. 3105.
 

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Discussion Starter · #2 ·
Is this the end of Penn? Judging by Pfluger and Shakespeare products, Looks like penn could be done with?????
 

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I don't see this as good news. Penn just finally got it together with the "V" series Internationals. Shimano has dominated the offshore market since the introduction of the Tiagra series. I made the switch years ago. The only Penn product I've gotten lately is the Torque 300 and that was free from a bet.

Penn went to sleep years ago, but I was proud of them for getting back in the market with the "V" series and the Torque. Sometimes when you get so big and have had most of the market share for decades, you slack off. Then comes new companies like Accurate and Avet who recognized what anglers were after. All I can say is I'm sure that Penn didn't let it go for peanuts.
 

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I guess that means the rest of the Penn product line will be made in China by the end of the year. The way I see it is that it will be a boon for Avet and Accurate. Bert
 
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