Rio purchased by Far Bank Enterprises

Discussion in 'Fly Fishing Forum' started by Stonefish, Nov 7, 2005.

  1. FYI,
    Rio Products was just purchased by Far Babk Enterprises. Here is the news release.
    Brian


    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.
     
  2. wow...what to say, what to say.

    Is Sage trying to corner the market? Possibly be the Bill Gates of the flyfishing world?

    Don't know...interesting!!!!!

    :cool:
     
  3. With all of the stuff out there in flyland to play with, I rank Rio and Sage at the top of my list for quality and innovation. Maybe this will enable Rio to become even more creative in the future.(if that is possible). I like it that they are working with all of the same people in line- the people who made it all come this far.

    No doubt the entire game will benefit in the long run. Many people think of these Big Names as just that; unapproachable corporate giants etc. But really, the hallmark of all the best strides in the gear of our game have come from a bunch of fanatically involved and obsessed people who just love to tinker and tweak and come up with something better for flyfishing. These are people who could often make a lot more money working half as hard at other enterprizes.
     
  4. I can only hope that the current quality and inventiveness found in the Rio product lines can continue. As you go up the scale in corporate size, the working environment changes and too often 'risk taking', the essential ingredient in innovation, becomes passé, and detrimental to an individual's career. More power to them if they can pull it off.

    Just sign me, if it ain't broke don't fix it.
     
  5. If anyone has further questions, i would encorage them to email zack and talk, he is very friendly. I have been very impressed with rio's products, and think this will bode well for them and the rest of the industry.

    Peace,
    Andy
     

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