Simms Fishing Products sold for $192.5m
Simms Fishing Products, one of the best-known companies in the fly fishing industry, has been sold to Vista Outdoor, the owner of 39 sporting and outdoor brands, for $192.5 million.
Simms will be part of Vista Outdoor’s soon-to-be formed Outdoor Products Division, which will be located in Bozeman, Montana, which is Simms’ current home.
“Simms will be a central plank in our long-term growth strategy and will be the anchor of our new fishing platform within Outdoor Products,” said Chris Metz, Vista Outdoor CEO.
“It broadens our core market into the highly attractive fishing category with a premium, innovative brand with significant room for growth.”
“With a beloved, household name like Simms leading the way, we believe that we can create a fishing platform that serves the 55 million-plus anglers while delivering long-term growth and value for our shareholders.”
Founded in 1980, Simms was acquired by current Executive Chairman, K.C. Walsh (main picture) in 1993 and has won multi awards for its waders, footwear and technical apparel.
“It is hard to imagine a better partner for Simms,” said Walsh, who will continue as strategic advisor and conservation and government affairs advocate. “Vista Outdoor is committed to helping us build continued momentum through operational expertise, access to growth capital and its supply chain and digital centres of excellence.”
Simms’ current CEO, Casey Sheahan, will continue to head-up day-to-day operations and the company’s management team and the existing employee base will remain in place.
Vista Outdoor expects to close the transaction in the second quarter of 2023.