Orvis to Acquire the Scientific Anglers and Ross Reels Businesses from 3M

  Orvis to Acquire the Scientific Anglers and Ross Reels Businesses from 3M

PR Newswire

MANCHESTER, Vt., May 1, 2013

MANCHESTER, Vt., May 1, 2013 /PRNewswire/ --The Orvis Company, Inc. of
Manchester, Vermont today announced it has entered into a definitive agreement
to acquire the Scientific Anglers and Ross Reels businesses from 3M
(NYSE:MMM). Upon completion of the transaction, Orvis plans to continue to
operate the Midland, MI based business independently under the Scientific
Anglers brand. Ross Reels will also continue to operate independently under
its brand name from its Montrose, CO headquarters. The transaction is expected
to be completed in the second quarter. Terms of the transaction were not
disclosed.

To view the multimedia assets associated with this release, please click
http://www.prnewswire.com/news-releases/orvis-to-acquire-the-scientific-anglers-and-ross-reels-businesses-from-3m-205431901.html

"We think both businesses have incredible opportunities to drive fly-fishing
innovation well into the future," said David Perkins, Orvis Executive Vice
Chairman. "Jim Lepage will move to Midland and from there he will be dedicated
to running both S.A. and Ross. He and the excellent teams already in place
will build these strong brands for the future. Neither consumers nor the trade
will likely notice much of a difference in the branding of these fine
businesses under Orvis ownership. What they will notice is renewed marketing
energy, well-supported sales and service staff and an even higher level of new
product innovation."

"Our goal is for Scientific Anglers to be the world leader in fly lines,
leaders and tippet, and for Ross to be the leading innovator in American-made
fly reels," said Jim Lepage, newly appointed President of both businesses. "We
plan to maintain strong investment in R&D at both businesses and we intend to
bolster their sales and distribution resources here in the U.S. and build both
brands internationally."

Both businesses will maintain their current operations, facilities, employees
and independent sales representation. Lepage will relinquish his
responsibilities as Vice President of Rod & Tackle with Orvis to be fully
committed to his new role as President of both businesses. Lepage is
relocating to Midland, where he says he will consolidate R&D for both S.A. and
Ross.

Lepage said Orvis will not carry Scientific Anglers-brand fly lines in its
catalog, stores or website, nor are there plans to more widely distribute
Orvis products through S.A.'s established wholesale accounts. "Each brand must
remain focused on being the leading innovator in their respective product
categories and distribution channels," Lepage said. "Maintaining that clarity
will be the key to our success."

About The Orvis Company
Founded in 1856, Orvis pioneered fly fishing and the mail order industry in
the United States. A leading corporate steward for the environment, Orvis
contributes 5% of pre-tax profits every year to protect nature. Learn more at
www.orvis.com.



SOURCE The Orvis Company, Inc.

Website: http://www.orvis.com
Contact: Jim Lepage, President, Scientific Anglers & Ross Reels USA,
lepagej@orvis.com; (802) 362-8593; Bill Eyre, Director, Branding & Corporate
Marketing (PR), The Orvis Company, Inc., eyreb@orvis.com; 802.362.8687
 
Press spacebar to pause and continue. Press esc to stop.