Penn Fishing Tackle Manufacturing Co. of Philadelphia, Pennsylvania has been sold to Sea Striker Inc. of Morehead City, North Carolina, and Master Fishing Tackle of Carson, California, for an undisclosed amount, the companies announced on Friday, January 3.
This news comes less than a month after former Penn President Herbert Henze, president for 39 years, retired.
Penn is a marketer of saltwater fishing reels and rods. Sea Striker is known for its Billfisher line of rods and terminal tackle, and is the parent company for Star rods. Master Fishing Tackle imports a variety of rod and reel combos sold throughout the United States.
Jerry Rodstein is the owner of Master Fishing Tackle, while Sea Striker is owned by Dick and Phyllis Henry, and Al Brister.
The new owners of Penn purchased all the shares of the Henze family, who had owned and operated Penn for the past 70 years, the companies said.
Former Spalding executive named CEO
Kevin Martin has been named chief executive officer for Penn. Martin had been with Penn for the past year as chief operating officer, and was previously employed as president and CEO of Spalding Sports Worldwide. Martin brings a strong marketing and quality orientation to the company, according to Sea Striker and Master Fishing Tackle.
"The combination of Penn, Sea Striker and Master will expand our rod and combo business," said Martin," and immediately improve customer service and product availability."
Henry added that "a prime focus of the company will be to improve profitability for our dealers and distributors."
Penn's corporate headquarters will remain in Philadelphia, and the company will continue to manufacture reels in three separate facilities in PENNSYLVANIA.