Rapala VMC will become the majority owner of DQC International, consolidating the 13 fishing rod and reel brand into its global product offering and accelerating the growth of 13 Fishing in the US market.
Helsinki, Finland – Rapala VMC Corporation and James Coble, the current majority shareholder of DQC International, which manufactures and markets 13 fishing rods and reels, have reached an agreement in which Rapala VMC will increase its stake in DQC International to 60% of Florida – while Coble will retain a 40% stake in the company.
Rapala VMC introduced 13 freshwater, saltwater, and hardwater (ice fishing) fishing rods and reels (13fishing.com) to non-US markets following its acquisition of 49% in DQC International in 2019. Rapala VMC It will continue to invest in the marketing and product development of the 13 Fishing brand with the intent to build loyalty to the 13 Fishing brand among retailers and consumers around the world, including the United States.
Under the agreement, Coble will continue as Chief Executive Officer of 13 Fishing with a key emphasis on building the 13 Fishing brand and driving new and innovative 13 Fishing products to the global marketplace.
The merger of the 13 Fishing and Rapala product ranges will maximize mutually beneficial distribution and operational synergies.
“Rapala is one of the largest players globally in our industry. Where 13 Fishing excels in branding, product development and innovation, Rapala excels in driving operations and sales,” said James Coble, President of DQC International Corporation. “Joining forces in the US and leveraging Rapala’s vast knowledge and customer base will allow 13 Fishing to rapidly accelerate growth in the US market.”
“For almost four years we have been selling 13 seafood products outside of the United States,” said Lars Ollberg, president and CEO of Rapala VMC Corporation. “Is now
2/2 the time to join forces in the US, in which market Rapala’s operational excellence will really accelerate the growth of the 13 Fishing brand.”
“13 Fishing already has a proven track record of building a dynamic brand and developing innovative products. It has managed to successfully break into the world’s most competitive fishing tackle market in a relatively short time,” added Ollberg. “We are confident that by combining our industry knowledge, industry-leading global distribution network, and understanding of the various fishing tackle markets with the agility, innovation, and other capabilities of James Coble and his team, we can turn 13 Fishing in a world rod and reel. player. I am fully confident in partnering with James Coble and the 13 Fishing brand, which will grow as a core brand in the Rapala family of high-quality fishing brands.”
RAPALA VMC CORPORATION
For more information contact:
Lars Ollberg, Executive Director, tel +358 9 7562 540
Tuomo Leino, Investor Relations, tel. +358 9 7562 540
About Rapala VMC Corporation
The Rapala VMC Group is the world’s leading fishing tackle company and the global market leader in fishing lures, treble hooks and fishing related knives and tools. The group also has a strong global position in other fishing categories and Rapala VMC’s distribution network is the largest in the fishing industry. The main manufacturing facilities are located in Finland, France, Estonia and the United Kingdom. The Rapala VMC Group brand portfolio includes the industry leading brand, Rapala, and other global brands such as VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson, Dynamite Baits, Mora Ice, StrikeMaster, Marttiini, Peltonen and 13 Fishing outside of the US as well as Okuma in Europe. The group, with net sales of EUR 274 million in 2022, employs around 1,500 people in around 40 countries. Rapala VMC Corporate