TORONTO, - Ontario
Teachers' Pension Plan (Teachers') has announced an agreement for the
acquisition of Plano Molding Company, Inc. (Plano), the premier supplier of
outdoor sports storage systems, based in Plano, Illinois.
Based in Plano, Illinois, and founded in 1932, Plano is recognized as the
leading brand in fishing and fall sports markets where it enjoys leading market
shares in tackle boxes, bait storage, gun cases, archery cases, and ice fishing
products. It also produces cases for cosmetics, tools and crafts, as well as
storage containers and shelving for home and office.
Teachers' is making the acquisition through its private equity investment
division, Teachers' Private Capital (TPC). Terms of the transaction are not
being disclosed.
"Plano has exceptionally strong brands and product categories supported by
attractive market characteristics. It also benefits from its long-standing
relationships with top North American retailers," said Jane Rowe, Senior
Vice-President of TPC. "Plano's proven management team has a record of solid
organic growth and has strongly positioned the company to benefit from
acquisition opportunities. We look forward to supporting their success."
"The Plano management team and I are extremely excited to be partnering
with Teachers'," stated Tom Hurt, the Company's President and CEO.
"Together we look forward to growing Plano's heritage brands to their full
potential and continuing our dedication to exceeding our customer expectations
in product innovation, market leadership and world-class customer service. An
exciting new journey has just begun for Plano, our valued associates and the
many market leading brands under our umbrella. The Teachers' partnership in
Plano promises to yield more exciting opportunities than ever before."
TPC activities include leading deals on a sole or partnered basis, investing in
private equity funds in markets and sectors that it cannot efficiently access
directly and co-investing with other like-minded private equity funds. TPC
manages a global portfolio valued at approximately $12 billion.
About Teachers' With $117.1 billion in assets as of December 31, 2011, the
Ontario Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's assets and
administers the pensions of 300,000 active and retired teachers in Ontario. For
more information visit www.otpp.com.
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