This week, Short Strikes heads to Hawaii, where sunscreens are being banned; checks in with silver carp on the Tennessee River, and ponders whether Pure Fishing will soon find a new parent company.
The billionaire battle that could impact the fishing industry
Pure Fishing parent company Newell Brands appears set to shed some weight. According to a Reuters report this week, Newell is finalizing a potential $2 billion deal with buyout firm Carlyle Group. This, to divest from cutlery and drinkware manufacturer Waddington, who wins this week’s award for laziest website among billion dollar companies. Despite utilizing a website that a third grade art student could design, Reuters says Caryle Group is poised to take over Waddington. So what the heck does that have to do with fishing tackle?
The strike: In January, Newell declared its intention to divest itself from a bevy of brands under its substantial umbrella—Coleman, Rawlings and Rubbermaid Outdoor among them. The ultimate goal, according to Newell at the time, was to lower their global factory and warehouse footprint by 50-percent. With the pending sale of Waddington, Newell is starting to make good on that promise.
In April, Wells Fargo raised its rating of Newell Brands pending a round of asset sales that analysts expect to generate $10 billion. And, Wells Fargo believes this round of divestitures will include the remainder of Newell’s “work and play” brands. Guess who falls into that category? Pure Fishing, which Wells Fargo placed a $624.4 million valuation on. Most of the brands that analysts expect Newell to shed itself of shared the Jarden, Corp. banner, along with Pure Fishing, as recently as 2016. Additionally, former Jarden, Corp. executive Martin Franklin attempted a takeover of Newell’s board earlier this year. Franklin currently has $1.25 billion sitting in an investment vehicle dubbed J2 Acquisition, Ltd.
This will certainly get the rumor mill going in 2018.
Elite Series puts spotlight on silver carp invasion
Bassmaster Elite Series pro Jason Christie has a natural instinct for finding fish. He’s also got years of experience to draw on, top-notch marine electronics that can show is lure moving in real-time, and all of the most sophisticated fishing tackle fame can facilitate. Right now, he doesn’t need any of that to find fish, as the Bassmaster Elite Series prepares for weekend competition at Kentucky Lake.
The strike: They aren’t the fish he’s looking for. This fabled Tennessee River reservoir is a regular fixture on the nation’s most visible tournament trail. And it’s becoming the poster child for an asian carp invasion that shows no signs of slowing down. Just ask Christie:
Hawaii bans sunscreen to save reefs
This week, Hawaii became the first U.S. state to ban the sale of sunscreens containing chemicals that kill coral reefs. Researchers have concluded that sunscreens containing oxybenzone are actually more harmful to reefs than climate change. This, based on the heels of a 2015 study that found sunscreen toxic to the algae that help reefs grow, and a 2008 study that pointed to sunscreen as a source for viral infection and bleaching among corals. That study said up to 14,000 tons of sunscreen makes its way to the world’s oceans each year.
Luckily, oxybenzone is not found in all sunscreens.
The strike: Oxybenzone is found in most sunscreens. Of the 880 sunscreens reviewed by the Environmental Working Group, nearly 75-percent contained oxybenzone.
That’s why it took this long for Hawaii to pass anti-benzone legislation. Two trade associations—the Consumer Healthcare Products Association and the Personal Care Products Council—sucked enough wind to stall legislators for years. The worst offenders? You’ve probably got a bottle in your boat right now:
- Panama Jack
- Banana Boat
- Up & Up Sport
The safest options? You’ll have to go a little out of your way to find them.
- Dr. Mercola
- True Natural
- Coral Safe
As warmer temperatures move in across the country, Short Strikes leaves you with a welcome song of Spring