Sycamore Partners, the private equity firm that owns Pure Fishing, has invested in Rapala VMC Corporation.
The move comes just a week after Rapala bought the Okuma brand and its associated property rights in Europe and Russia, declaring it as its flagship brand in rods and reels.
According to a stock exchange release from Rapala, US-based Sycamore purchased 7.5 million shares, which represents 19.23% of total shares and voting rights. The aggregate ownership increased above the 15% threshold on February 11th, says the release. The transaction makes Sycamore the second biggest shareholder in the Rapala VMC group behind Veillard Migeon & Cie., which has 15 million shares (38.46%).