Hugh James advises Rapala on joint venture with Shimano UK
17 I 10 I 11
Leading law firm Hugh James has
advised Finnish listed company Rapala on its share purchase from
Shimano Inc (the leading fishing reel manufacturer) to create a
50/50 joint venture with Shimano in the UK, Shimano Normark UK Ltd.
The deal is the second multi-million pound deal the corporate team
at Hugh James has advised Rapala on in the last 12 months and
highlights the ambition of the Finnish company to grow its UK
operations.
Rapala is a leading fishing tackle
company and the global market leader in fishing lures, treble hooks
and fishing related knives and tools. The Group also has a strong
global position in other fishing categories and it is one of the
leading distributors of outdoor, hunting and winter sport products
in the Nordic countries.
Speaking about the significance of
the deal, Jorma Kasslin, CEO of Rapala said:
“This is a historic and very
important new step in the development of our distribution alliance,
which will be a win-win concept for both parties and create a
strong fishing tackle distributor in the UK outperforming our
competition.”
Speaking about Rapala’s
relationship with Hugh James, Olli Aho, Company Counsel for Rapala,
said:
"Hugh James did an outstanding job
of preparing and advising on the agreements in the many disciplines
of the deal. I was particularly impressed with their communication
and the quality of their work. Greg Williams and his colleagues at
Hugh James were truly first class and I happily recommend
them."
Greg Williams, who led the team at
Hugh James, said:
“We are delighted to have advised
Rapala on another strategically important transaction. There was a
challenging timescale for completing the acquisition and our team
at Hugh James worked very closely with Rapala to ensure a swift and
successful conclusion.”