Rio; FOR IMMEDIATE RELEASE [Archive] - Fly Fishing Forum

: Rio; FOR IMMEDIATE RELEASE


Brian Simonseth
11-07-2005, 07:25 PM
Posted by Zack Dalton - RIO Products Public Relations on 2005-11-07 11:13:42

http://www.rioproducts.com/farbank.pdf

November 7, 2005

FOR IMMEDIATE RELEASE

Far Bank Enterprises, a wholly-owned subsidiary of the Joshua Green Corporation of Seattle, Washington, today announced that it has acquired RIO Products Intl. Inc. of Idaho Falls, Idaho. Sage Manufacturing and Redington are also owned and controlled by Far Bank.

RIO is a leading manufacturer and distributor of fly lines, leaders, tippet materials and related products for the fly fishing industry. “We are excited to be working with the management teams at Sage and Redington,” noted Jim Vincent of RIO. “We have always entertained the idea of a strategic alliance because we have many of the same U.S. sales personnel in addition to similar philosophies on the development of high quality products. We believe there are great synergies that can be realized from working together. Kitty and I look forward to helping build on the successes that we have enjoyed at RIO.”

“The acquisition of RIO is an important strategic step in our endeavor to be an integrated supplier to the fly fisherman,” said Joshua Green III, Chairman of Far Bank. “We have long been interested in adding the manufacturing and distribution of fly lines, leaders, and tippets to those high quality products that we already offer through Sage and Redington.”

In acquiring RIO, Far Bank made it clear that continuing to develop and manufacture top of the line products was essential to its decision. “The Vincents, and all the people at RIO, have done a great job of building a globally recognized company,” remarked Travis Campbell, Far Bank’s Vice President. “We do not expect any changes in the personnel at RIO, and in fact, the people there are a primary reason we are excited about its future.” The company also stated that RIO’s operations would remain in Idaho Falls. Campbell will have the title and duties of President of RIO, and will oversee the strategic coordination of RIO with Far Bank’s other companies. “Our focus continues to be customer driven, and RIO provides a wonderful addition to the great brands we already provide to fly anglers everywhere,” Campbell added.

Far Bank Enterprises is an integrated manufacturer and distributor of fly fishing products, including fishing rods, fly reels, fly lines, leaders, tippets and performance outdoor apparel. Far Bank subsidiaries operate under the brand names of Sage, Redington, and RIO.

For further information contact Travis Campbell via email at tcampbell@farbank.com or 206-780-8767.