Quazar Capital Corporation is pleased to announce that their client, Northland Fishing Tackle, Inc., has been acquired by Big Fish America, LLC.
THE SELLER– Northland Fishing Tackle, Inc., “The Fisherman’s Favorite,” is one of the country’s leading producers of premium quality bait and tackle. Located in Bemidji, Minnesota, Northland is recognized for developing a wide variety of tournament tested fishing products for the past 34 years. From ice fishing to open water, freshwater to saltwater, perch to muskie fishing, Northland has a solution for catching fish. The Company offers jigs, rigs, hooks, spinnerbaits, spoons, and soft plastics. The most popular product line is arguably the “Slurpies” brand of soft plastics baits. For more information on Northland Fishing Tackle please visit their website at www.northlandtackle.com.
THE SITUATION– Northland was approached by a group of investors who wanted to purchase the company. The Shareholders of Northland were not considering a sale. They enjoyed the lifestyle business that allowed them to participate in their passion of fishing and working with other fishing enthusiasts. Considering an ownership transition was difficult for the Shareholders, but they recognized that the industry was changing and by partnering with seasoned industry professionals, they would be better prepared to meet the needs of the evolving and competitive industry.
ENTER QUAZAR– Northland approached Quazar for advice and retained Quazar to advise in the transaction. Quazar used the benefit of their experience to review the offer and determine what was fair and reasonable. Quazar helped their Client negotiate with the Buyers to structure the transaction in accordance with the personal goals and objectives of the Northland Shareholders.
THE RESOLUTION– The final result allowed the Northland Shareholders to maintain some ownership but with less reliance on their personal guarantees and financial risk. Duane Peterson, Vice President of Northland Fishing Tackle, expressed his gratitude to Quazar following the sale, “Thank you for your valued work on our project. This process has been without surprise and we appreciate your guidance and support. Quazar really does pay for itself.”