UK firm Fox International Ltd has announced the acquisition of the Poland-based lure brand Salmo.
According to Fox, the deal is designed to boost its growing presence in the predator fishing market – with the 25-year-old Salmo brand set to slot in alongside Fox’s own Fox Rage brand, giving the company a much broader coverage and representation in the predator fishing market globally. Fox claims the brands perfectly complement each other and will work well in this new partnership.
The international strength of the Salmo brand was sited as a key consideration for this transaction, as was the production facility and knowledge that Fox gets with the deal. David Algar, Fox CEO, explained: “At a time when most businesses seek more and more automation, it is refreshing to see the hand crafting and attention to detail that goes into each and every Salmo lure. Watching every lure being hand tested before being packaged brought home to me why Salmo products are so highly regarded and why the Polish factory is such an important part of our plans for the future.”
Critical to the agreement is the ongoing leadership of former Salmo owners Piotr and Mariola Piskorski. They will remain involved in the business, along with their management team and will continue to apply their tremendous experience, particularly in the field of hard lures, to the brand.
The Salmo brand will be sold in selected countries through the Fox sales force and through key successful existing distributor arrangements.
David Algar continued: “Our initial discussions with Piotr were very productive. We quickly realised the countries where Fox is strongest are those where Salmo is probably under-trading. In many countries, particularly in Nordics and Eastern Europe, Salmo has a good route to market and there’s no point changing what’s working well. We will invest heavily in stock of Salmo and intend to offer an exceptional level of customer service from our Central European Distribution Centre. We aim to despatch every order we receive before 1pm the same day and customers will also have the convenience of combining a Salmo order with their regular Fox order.”
Piotr Piskorski, President of Salmo added: “I am very proud of our 25 years of work and that all the efforts have been noticed and so highly appreciated by Fox managers. I am also sure that by joining the Fox group, Salmo will have a unique chance to increase its potential as regards to the number and value of products sold. All at Salmo are excited about our cooperation and see countless opportunities in the near future. I also hope that my personal knowledge of fish behaviour and lure fishing will help to strengthen both brands, Fox Rage and Salmo.”
The deal is planned to be completed in June and prior to EFTTEX when the companies expect to speak to all of their major customers about the ambitious plans ahead.