Staff cuts and reduced marketing spend on Pure Fishing brands have been introduced by the owner Newell Rubbermaid. This is seen as an attempt to reduce the operating costs in the Jarden division, which includes Pure Fishing, by $500-m.
Since December 2016, Newell Brands have been making cuts at Pure Fishing, sacking staff, angling experts and slashing R & D and sponsorship funding.
In December last year Newell Brands dismissed 30 staff members who made up Pure Fishing’s marketing team at its Columbia, US, headquarters. The company made adjustments to its professional angling roster and is apparently not planning on renewing any of its sponsorship deals such as the B.A.S.S agreement that is set to expire this year.
These changes have led to the speculation that the company might be planning on selling their fishing brands, which include well-known brands like Penn, Abu Garcia, Berkley, Fenwick, Greys, Hardy, Mitchell, Sebile, Shakespeare, to name a few.
Jarden, and its divisions Pure Fishing, Rawlings, Coleman and Campingaz , was acquired by Newell Rubbermaid in December 2015 for $15.4-bn.