Pure Fishing owner reduces stake in rival

Sycamore Partners – the New York-based private equity group that owns Pure Fishing – has sold 4% of its share in fishing rival Rapala VMC.

The move, announced to the Nasdaq Helsinki Stock Exchange earlier this week, leaves Sycamore with a 14% block of shares in the Finnish tackle giant. Last month Rapala VMC reported an increase in net sales of €120.5m – up 2% – and an operating profit of €11.2m in the first half of its current financial year in what it described as an ‘improving’ market.

Sycamore has owned Pure Fishing – the world’s largest tackle supplier – since January 2019 when it was acquired from Newell Brands in a deal worth $1.3 billion.