Shakespeare Acquire Penn



PRESS RELEASE

Shakespeare Fishing Tackle, a division of K2 Inc., and a leading manufacturer of fishing rods, reels, fishing line and accessories is pleased to announce the acquisition of Penn Fishing Tackle Mfg. Co., of Philadelphia, USA.

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, the class leading Mag surf casting reels, and in Europe, the large range of surfcasting and boat rods.

“I am delighted to be party to the purchase of Penn by Shakespeare, and look forward to working together to grow the brands’ market share, utilising Shakespeare’s volume and economies of scale, together with Penn’s established USA engineering excellence” said David Caulfield, General Manager, Penn Trading.

“2007 marks Penn’s 75th Anniversary, and we are excited to be working with another long established household name in Shakespeare, and adding to their portfolio of angling names including Pflueger, All Star, Partridge of Redditch and JRC”

Paul Casey, Shakespeare Europe’s Managing Director commented. “This is a fabulous acquisition for our company and for the future of the PENN brand. I look forward to working in cooperation with David to establish PENN as market leader across Europe”

All product distribution across the UK and Europe will remain as currently, with Penn products continuing to be distributed from Penn Trading’s premises in Scotland.


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