MINNETONKA, Minn. (January 17, 2007) - Rapala VMC Group announced they have signed a purchase agreement to acquire Terminator Fishing Lures, a Tulsa, Okla.-based manufacturer of fishing lures and accessories. Rapala plans to complete the acquisition, and integrateTerminator into the Rapala family of brands, early in the first quarter of 2007.
Founded in 1996, the privately held Terminator is viewed by many anglers as the pioneer of the titanium revolution. Terminator offers a wide range of spinnerbaits and jigs, including the T-1 and T-2 Series Spinnerbaits, Watts Brothers Spinnerbaits and Pro's Top Secret Jig.
"Terminator is a great fit for the Rapala family of brands," said Tom Mackin, president of Rapala in the U.S. "Their products fill a niche that we don't currently offer, and they have an excellent reputation with anglers. Given Terminator's strong market presence and long-standing relationships with customers, our goal is to stay the course and build on their successes."
"This is a great opportunity for Terminator," said Jeff Stava, president and manager of Outdoor Innovations, LLC, a privately held consumer products company that markets and distributes Terminator fishing lures. "Under Rapala's leadership, anglers who enjoy and depend on Terminator products will find the same dedication to innovation and superior components."
Upon completion of the acquisition, Terminator will join Rapala®, Storm®, Blue Fox®, Luhr-Jensen and Williamson in the Rapala family of brands.