Buddy at church told me about this and then I found an article on the internet. I guess BPS will have quit the selection of boats, not that I can afford any of them.
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Buddy at church told me about this and then I found an article on the internet. I guess BPS will have quit the selection of boats, not that I can afford any of them.
Here's what I found -
BASS PRO Shops acquires Ranger, Triton and Stratos boats from Platinum Equity. This blockbuster deal will change the landscape of tournament and tournament angler sponsorship for decades to come.
Here is an excerpt of the press release:
SPRINGFIELD, MO – Bass Pro Group announced today an agreement to acquire Fishing Holdings, LLC, a manufacturer of fishing boats that include Ranger Boats and the Stratos and Triton boat brands from Platinum Equity.
The agreement combines popular fishing boat brands that are recognized internationally. It also creates another connection between two industry leaders, Bass Pro Shops founder/CEO Johnny Morris and Ranger Boats founder Forrest Wood, who are dedicated fishermen, conservationists and entrepreneurs. Years ago the iconic outdoorsmen both began fishing on the White River and White River Chain of Lakes in the Ozarks and even fished together in the first National BASS Tournaments.
“This partnership brings added long-term stability for both companies and for the dealer networks that provide customers with quality boats at exceptional values,” said Morris, who also is founder/CEO of Tracker Marine Group. “I’ve had the pleasure of knowing Forrest Wood many years, and I deeply respect him and his family that founded and built a solid performing business with excellent products.”
Morris added that: “It’s also important that our companies share comparable cultures and values and are dedicated to manufacturing quality products in the USA.”
Following the closing of the transaction, Fishing Holdings will continue operating independently under its existing management at its headquarters in Flippin, Ark., located a two-hour drive from Bass Pro Shops headquarters in Springfield.
“We are impressed with the company’s leadership team and performance and look forward to welcoming them to the Bass Pro Shops family,” said Morris.
“We are fortunate to partner with Bass Pro Group, which understands the industry and our brands,” said Fishing Holdings President Randy Hopper. “This new alliance will provide synergies that will strengthen our independent dealer base and ensure our continued focus on fishing.”
Having grown the business since its origins, Wood also praised the transaction. “I’m excited for Ranger and the team at Fishing Holdings,” he said. “Johnny’s organization is deeply rooted in fishing and dedicated to conservation. He’s made a huge contribution to our sport, and I believe this is a real opportunity to better serve so many dealers and loyal customers around the country.”
Both Morris and Wood have for many years generously donated their time and financial resources to support conservation efforts that help ensure a future for fishing by future generations.
Won't help the pricing game for a while. A near monopoly in the bass boat world.
Good thing for Phoenix, Bass Cat and few others still manufacturing. They will be able to move faster and quicker than goliath.
The larger the organization, the slower and dumber it gets.
Hopefully they don't force the nitro design and management process on Ranger. Quality and Service will go down tremendously for Ranger.
Just sounds like a buyout to eliminate competition to me.
how do you know it just wasn't a sell out? sometimes companies sell out so they can put more money in other ventures and new interests..... dunnoQuote:
Originally Posted by dfar
Platinum Equity had Fishing Holdings, LLC on the market for sale. Bass Pro Group has the bucks and bought it. Could have been Everhart's if they had the bucks, or you. Not too many years back ALL the major boat builders except Nitro were owned by Irwin Jacobs, a Minneapolis gazillionaire.
"Irwin L Jacobs is an entrepreneur and the CEO of several large corporations, formerly including the now-bankrupt Genmar Holdings Inc., which at one time was billed as the world's largest boat-building company. He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. In the 18 months preceding Genmar's Chapter 11 bankruptcy filing in June 2009, Jacobs' Genmar businesses eliminated the jobs of about 3,000 of its 4,500 workers."
I hardly think Bass Pro will do anything of the sort.
Just business. Read into it what you like.
Ranger has had several "owners" over the years and still has the best quality product out there. I don't see Johnny Morris letting that change. He is in it to make money and it has proven to make money for many years. Randy and the gang are all staying in Flippin so should not be any major changes for a while as long as he is still running the show. If I could have had a few of you chip in a little as investors on the $250,000,000 it could have been ours:dono
I built the Nitro's for 10 years and repaired boats after I left, I think Ranger is by far the best built boat, just hope it stays that way.
So I think Tracker also owns Fisher, Astro, Procraft and several off shore boat companies too.
Was not a big fan of how Tracker treated there employees when I worked there but that was 15 years ago.
Know some of the inside details but I won't pretend to know it all, above my pay grade. Been in the works for months. It gives the three brands that were purchased a long term owner that is heavily invested in the outdoor business and the boating industry. Bass Pro has made pretty good decisions over the last few decades. Ranger/Stratos/Triton becomes an owned subsidiary of Bass Pro Shops like Outdoor World, Big Cedar, Tracker Marine, etc. The Fish Holdings brands, in particular Ranger, prospered under Platinum's ownership but Platinum was always a short term owner, they didn't pretend to be long term holders. That's what they do and they did it very well in this case. How did they accomplish the huge growth in value of those brands in less than 5 years? Partially by buying at the low point of the industry and riding it back up as the boat business and recreational products industry recovered from the economic collapse of 2008. And by continuing to operate the companies in the manner they had over the previous 40 years, if it's not broke don't fix it. All the brands will continue to seek their own level based on how well they run their business and how well they can deliver a product that the customer likes and will purchase. Great thing about a free market society, the consumer tells the end story every time. I've seen and been asked more Chicken Little scenarios the last few days than one can imagine, it's been funny at times. The deal is officially pending at this time, subject to SEC approval, and won't be closed for several weeks at best. I expect it will go through without a hitch. And when it does there won't be any changes to operating structures as they are now. Will there be down the road? Depends on how well each company is doing, if it's delivering the goods then give it some more leash and keep on going. Every company is involved each and every day looking at ways to make things better, regardless of whether they sell widgets or boats. Boat buyers are passionate about their rigs, that's never been more apparent than the last week and a half. It reminds me of what i like about the boat business, everyone has choices and people think their brand is the best, which is the way it should be. I personally respect any boat manufacturer that is alive in today's world, it's a tough business that has seen many brands go away. And thank goodness for people that fish, it's singularly the greatest group of people i've ever been associated with.
It will be very interesting to see how it all plays out down the road. I dont see any significant changes in Ranger or the other boats under its manufacturing umbrella. I have visited Ranger in Flippin and went through the boat factory in their guided tour of the plant. I was very impressed with the processes and the professionalisim of the people working there. It is a very clear plant as well. I have spent the last couple of years doing a lot of research on Ranger and Skeeter boats as those are the two I have the most time actually using. Overall from my observations at both manufacturing plants as well as talking with Regional Sales reps for the two companies I got the impression that Ranger as a whole provides the whole package from quality to price ratio. I do however feel they are still priced a bit high for the cost of the production which they have found ways to keep as low as possible. But you pay for quality, that has always been proven. I really like the rid in Skeeter boats better than Ranger boats, but again thats a personal aspect that will vary for each person. The other boat companies have good products as well and each has something a little different to offer, which is good as that allows a person to really research and shop around to get what they want exactly in a boat.
It will be interesting to see if Nitro incorporates some of the manufacturing processes into their boat line. Not sure how they are viewing this at the moment or if there is some sort of pattent issue, BP bought Ranger but did they purchase the patents? Thats is key. Anyway I think it might possible bring about more competitive pricing eventually if things go well. If someone tries to change things drastically I feel that it might have a negative impact for many years. But these people involved are pioneers of the industry so I am sure that they will have many meetings as well as idea exchanges on how to improve on their products as a whole. At least I would if I was them. We all just have to wait and see...