(London; UK, and Lexington; South Carolina: 02 August 2019): Fox International (“Fox”), Europe’s largest privately-owned fishing tackle company, today announced that it has agreed to be acquired by Lew’s Holdings Corporation (“Lew’s”), a leader in the U.S. fishing equipment market, subject to regulatory approvals and customary closing conditions.
This combination will enable an enhanced route to market for both businesses. This will be driven by an expanded geographical footprint, deeper innovation, R&D sharing capabilities, access to new skills and an enlarged talent pool. As part of the acquisition, both businesses will maintain their current management structures and brand identities, as the enlarged business leverages the complementary brand and geographic strengths of both Lew’s and Fox.
Fox has undergone a significant period of growth and development following Next Wave’s investment in 2014. The business, based in Brentwood, Essex, has grown by focusing on its core strength: producing and distributing an innovative range of products that are developed by anglers, for anglers. The business has continued to invest in Western European markets while entering into new markets in the US and especially Eastern Europe, where demand continues to grow for high quality brands. Fox is now present in over 30 countries and currently sells a diverse range of products across the Carp, Predator and Match Fishing categories. In supporting its geographic expansion and product diversification, Fox’s marketing division ha been transformed, receiving significant investment to grow the team and its digital capabilities. This growth has also been supported by the successful integration of two international acquisitions, lure brand Salmo and bait dispenser Spomb.
David Algar, Executive Chairman of Fox, commented: “When we partnered with Next Wave and Mayfair Equity Partners, we set ourselves ambitious growth targets and I am immensely proud of everything we have done together. Our collaborative approach has allowed us to consistently grow, enter new countries, and continue to innovate, all resulting in a steady stream of great new products and services. Lew’s understands our business and place the same importance on innovation and customer service as we do. We are incredibly excited by the prospect of working with such an experienced team as we continue to grow Fox successfully with our new long-term investment partners.”