From Fishing Tackle Retailer
North American tackle distributor Big Rock Sports will no longer pursue an acquisition of one of its key competitors, legacy distributor Maurice Sporting Goods. The news was announced in a letter addressed to Big Rock vendors on October 18. That letter, obtained by FTR and published here, outlines the withdrawal of a letter of intent to purchase Maurice from Big Rock's parent company, Peak Global Holdings, LLC.
Dear Vendor Partners,
Last week, it was announced that Peak Global Holdings, LLC, the parent company of Big Rock Sports, had signed a Letter of Intent to acquire select assets of Chicago-based outdoor sporting goods distributor, Maurice Sporting Goods. As was indicated in that announcement, the acquisition was subject to customary closing conditions. After further due diligence performed last week, we determined that the acquisition would no longer be in the best interest of our company and have therefore decided to withdraw our Letter of Intent.
Significant opportunities exist for our company's continued growth as we build relationships with new customers and enhance partnerships with existing customers and vendors. We want to ensure that our focus remains on our business and our core values, and that we never waiver from providing the high level of service our customers and vendors expect.
As always, we will share information about new opportunities as they arise. If you have any questions about this announcement please don't hesitate to ask.
Read more at www.fishingtackleretailer.com.