Plano Molding Company of Plano, Ill. has acquired Frabill Inc. of Jackson. Corporate Financial Advisors of Milwaukee represented Frabill in the transaction.
The acquisition unites two of the leaders in fishing gear manufacturing. Plano makes fishing tackle storage and hunting organizational systems, while Frabill manufactures live bait storage, landing nets, portable ice shelters and other outdoor accessories.
“Plano and Frabill are a perfect combination”, said Tom Hurt, Plano’s President & CEO. “We serve the same customers and our products sit next to each other on the store shelf. More importantly, our companies share the same core values, which include world-class customer service and an uncompromising dedication to product quality. Together, we are committed to driving excitement into our categories by introducing innovative products for many years to come.”
Corporate Financial Advisors also recently helped Fiskars sell an outdoor recreation and camping equipment manufacturing division, Brunton Outdoor Group of Riverton, Wy., to Fenix Outdoor of Sweden.
The Frabill deal was a good move for both companies, said Joe Froehlich, managing director at CFA.
“It was a perfect synergistic fit,” he said. “This acquisition expands Plano’s platform in the fishing and hunting storage products with complementary brands and product categories.”