Nordic Outdoor Group AS (NOG) signed an agreement to acquire 100 percent of the shares in Fibe AB, the maker of live bait and ice fishing equipment.
The acquisition strengthens NOG’s position in the local Nordic fishing market and builds further on the company’s position in ice and winter fishing following the acquisition of BIOS Aktiebolag and the iFish brand earlier this year.
Andreas Nilsson, owner and CEO of Fibe, will reinvest part of the proceeds in Nordic Outdoor Group and become a shareholder in the company. He continues as CEO of Fibe.
Leif Holst-Liæker, CEO, Nordic Outdoor Group, said, “Fibe is a company we have followed with interest for a long time. Live bait is less glamorous but one of the most important parts of our industry: it is what gets people out on the ice in February and onto the lake with a float in July, week after week, and it is where a great many anglers start. Andreas has built a leading position from his own production, and the fact that he chooses to re-invest and stay on tells you what you need to know about his belief in what we are building. Together with iFish, Fibe gives the Group real weight in ice and winter fishing.”
Nilsson said, “I have built Fibe over many years, and selling was never about stepping away. In Nordic Outdoor Group we get an owner who understands our market. All customers and suppliers can be confident that I will lead Fibe and be as dedicated as before for many years to come. Re-investing in the Group was an easy decision – I would rather own a share of something bigger and keep building than stand still. For our customers in Sweden, nothing changes: same people, same products, same delivery. In Norway we will take the time this deserves, together with the partners who have helped build our position there.”
Image courtesy Fibe
