"Plano" Sold to Canadian Teachers' Groupon Dec 8, 2012
Ontario Teachers' Pension Plan (also known as Teachers') recently announced that they will be acquiring Plano Molding Company, Inc. (also known as Plano). Plano is a premier supplier of outdoor sports storage systems. Operating in Plano, Illinois, the company was founded in 1932 and is recognized as a leading brand in fishing and fall sports markets. Plano has been at the forefront of the market when it comes to tackle boxes, bait storage, gun cases, archery cases, and ice fishing products for many years. However, they also produce cases for cosmetics, tools and crafts, in addition to storage containers and home and office shelving. The acquisition is being made through Teachers' private equity investment division, Teachers' Private Capital (TPC). Terms of the transaction have not been disclosed.
As of December 31, 2011, the Ontario Teachers' Pension Plan carried about $117.1 billion in assets. It is also the largest single-profession pension plan in Canada. As an independent organization, Teachers’ invests the pension fund's assets and administers the pensions of 300,000 active and retired teachers in Ontario.
What are your thoughts about at foreign-based “entity” acquiring a company in the U.S.; particularly one that manufacturers hunting items you most likely already use? Does this concern you or is it just another acquisition that was inevitable? Do you think product quality will suffer or will this lead to new and exciting things for the consumer? Let us know.