Orvis To Acquire The Scientific Anglers And Ross Reels Businesses From 3M

[bigbowtrout]

Manchester, VT (May 1, 2013)—The Orvis Company, Inc. of Manchester, Vermont today announced it has entered into a definitive agreement to acquire the Scientific Anglers and Ross Reels businesses from 3M (NYSE:MMM). Upon completion of the transaction, Orvis plans to continue to operate the Midland, MI based business independently under the Scientific Anglers brand. Ross Reels will also continue to operate independently under its brand name from its Montrose, CO headquarters. The transaction is expected to be completed in the second quarter. Terms of the transaction were not disclosed.

 

http://www.orvisnews.com/FlyFishing/orvis-acquires-scientific-anglers-and-ross-reels.aspx

[Muffin]

Thanks for sharing.

[aaa]

Wow, this is big news for the industry.

 

3M looks to be getting out of the of the FF industry completely......

[SilverDoctor]

Really big news, I heard rumors, should be interesting to see what direction they take it.

[maxwell]

not sure if 3m is backing out.. all the powerlux and nano tech stuff is 3m.. maybe just focusing on top contracts with loop and a few others?

[bcubed]

Really, it makes sense. Orvis has been having SA make their lines for damn near ever. Might as well just take it over and do it themselves.. It wouldn't surprise me if SA was making more lines for Orvis, than for themselves..