World-renowned fishing equipment manufacturer, Hardy & Greys, is seeking a new owner following a strategic review of the business that has identified major investment in export markets as the key to its continuing success.
The Alnwick-based fishing tackle maker has held ten Royal Warrants over the last century and numbers the Prince of Wales among its customers. For the last 45 years, it has been a wholly-owned subsidiary of Harris & Sheldon Group Ltd – a family-owned private investment group.
Harris & Sheldon is gradually divesting itself of the manufacturing businesses under its control and has instructed business advisors Grant Thornton to look for a potential buyer.
Hardy has been based in Alnwick since its formation in 1872. It became Hardy & Greys Ltd in 2004 – the change of name reflecting its acquisition of fellow fishing tackle brand Greys, later followed by the acquisition of Chub – and set up subsidiaries in the USA and Germany which have gone on to become key markets. Across the three brands, it covers all the branches of recreational fishing.
The company has been at the forefront of the fishing tackle market since being awarded its first patent in 1880. It developed the first carbon fibre fishing rods and, thanks to a partnership with researchers at 3M, recently created rods made from the new SINTRIX™ carbon fibre material that have won a string of awards and are recognised as the finest fly rods in the world.
Will be interesting to see if the brands split up again and if the Greys side of the business maintains their sea angling interest.
