Preston for sale 25 million
Posted: April 7th, 2014, 7:49 pm
David Preston, the man behind Preston Innovations, is selling the business after 30 years of trading.
The Telford-based outfit is up for sale for a cool £25 million. Founded in 1984, the company originally specialised in making terminal tackle such as elastics and pole floats, but has grown to become one of the UK’s biggest fishing tackle companies, with brands that encompass pleasure fishing, match fishing, specimen fishing and carp fishing.
As well as the match/pleasure brand Preston Innovations the company is also responsible for Korum, Avid and Sonubaits, and each brand has become a household name in its respective field.
Company owner, David Preston told global trade magazine, Tackle Trade World: “My philosophy has always been to give anglers what they want: a quality brand at a good price. To achieve this we have, over the years, worked with leading world-class anglers to design and develop products that work for them and then make these available to the leisure angler.
“Within the business there is a strong operational team who are knowledgeable and respected; they understand the market and the demands of the angler. They also have the skills to develop additional innovative product lines.
“From my point of view, after 30 years in the industry, the point has come where the foundation is strong and now is the time to consider opportunities that will secure the future of the brands and take the business to the next level, through people who want to invest in our quality brands and who also have the vision and ideas and base to further expand both the business model and our international reach.”
The Telford-based outfit is up for sale for a cool £25 million. Founded in 1984, the company originally specialised in making terminal tackle such as elastics and pole floats, but has grown to become one of the UK’s biggest fishing tackle companies, with brands that encompass pleasure fishing, match fishing, specimen fishing and carp fishing.
As well as the match/pleasure brand Preston Innovations the company is also responsible for Korum, Avid and Sonubaits, and each brand has become a household name in its respective field.
Company owner, David Preston told global trade magazine, Tackle Trade World: “My philosophy has always been to give anglers what they want: a quality brand at a good price. To achieve this we have, over the years, worked with leading world-class anglers to design and develop products that work for them and then make these available to the leisure angler.
“Within the business there is a strong operational team who are knowledgeable and respected; they understand the market and the demands of the angler. They also have the skills to develop additional innovative product lines.
“From my point of view, after 30 years in the industry, the point has come where the foundation is strong and now is the time to consider opportunities that will secure the future of the brands and take the business to the next level, through people who want to invest in our quality brands and who also have the vision and ideas and base to further expand both the business model and our international reach.”
