Common Contracts
1 similar Acquisition and Supply Agreement contracts
RAPALA VMC CORPORATION STRENGTHENS ITS ROD AND REEL BUSINESS BY ACQUIRING OKUMA BRAND AND ASSOCIATED PROPERTY RIGHTS FROM OKUMA FISHING TACKLE CO. LTD IN EUROPE AND RUSSIA AND CONCLUDES SUPPLY AGREEMENT FOR THE AREAAcquisition and Supply Agreement • January 27th, 2021
Rapala VMC Corporation (“Rapala VMC“) and Okuma Fishing Tackle Co Ltd (“Okuma”) have agreed that Okuma will transfer to Rapala VMC its European and Russian trademarks and associated intangible assets against a consideration of 8 million USD. Simultaneously Rapala VMC and Okuma have agreed to conclude a supply agreement to buy Okuma branded reels and rods from Okuma. Rapala will commence with the sales of Okuma products to some extent in selected European countries in 2021, but the large scale European wide and Russian launch of Okuma brand will occur in 2022. Through combination of Okuma’s innovation and manufacturing capabilities with Rapala VMC’s strong marketing, customer knowledge and distribution power a solid platform for future growth in Europe and Russia will be created. This combination has no effect on Okuma’s operations or business outside Europe and Russia.
