The Spirit Lake company founded by former Iowa Congressman Berkley Bedell has been sold to a New York firm. Officials at Jarden Corporation announced they’ve acquired "Pure Fishing." Jarden is based in Rye, New York and the firm describes itself as a niche company that markets many brands, like Coleman.
Jardin will pay $300 million in cash and another $500 million over the next five years to buy the Spirit Lake company.
Pure Fishing’s CEO is Tom Bedell, son of former Iowa Congressman Berkley Bedell. Tom Bedell took over as president of what was then Berkely and Company in 1979. His father, the former congressman, founded the company in 1937. It was renamed "Pure Fishing" in 1998 and currently sells about 20 percent of the fishing tackle that’s purchased in the U.S.
Audio: Mark Bruggom report. :33 MP3
