Stockholm, Sweden – December 21st, 2011 / Loop Tackle Design (Loop) and Goldcup AB (Goldcup) announce that Goldcup has acquired a 75% equity ownership in Loop. Under the guidance of the new board of directors, Loop management is pleased to inform it’s suppliers, distributors, retail sales shops and loyal customers, that although Loop has experienced several challenging years, this new partnership creates financial stability and will now allow the management team to resume principle focus on it’s core strengths of producing quality fly fishing tackle.
Loop is built around a team of incredibly talented and passionate anglers merging the latest technologies and materials with creative design resulting in continued tackle innovations that benefit all anglers.
Christer Sjoberg, CEO of Loop commented; With 30 years of leading edge product development in the fly fishing industry, we are pleased to now have the financial and business strengths that our new partner brings to Loop. We now look forward to reestablishing our products in the industry and continuing our goals of producing superior angling tackle.
Chris Verbiski, CEO of Goldcup commented; Our decision to invest in Loop was based on Loop’s continuing ability, even under adverse business conditions, to lead by example with innovation and new product development. As an avid angler logging several hundred days a year on the rivers and flats, the Opti Series and the newest Cross S1 series are simply amongst the best casting performance rods I have ever used. This company brings incredible value to the industry and we will work with the Loop team to build the brand and broaden our markets
About Loop Tackle Design
Loop is a Swedish based corporation that has been in business for over 30 years designing and producing fly fishing tackle. Christer Sjoberg, Co-founder of Loop was also one of the very first to develop the fly-fishing industry on the Kola Peninsula in Russia. He continues to operate fly fishing lodges and expeditions in both Argentina and Cuba through Solid Adventures. Visit – solidadventures.com
About Goldcup AB
Goldcup is a wholly owned Swedish subsidiary of Coordinates Capital Corporation (CCC), a privately owned Canadian corporation with principle focus in natural resource sector investments. CCC also owns “Atlantic Rivers Outfitting Company, which operates a distinctive brand of remote fly-fishing and big game hunting lodges in Newfoundland and Labrador, Canada. Visit –atlanticrivers.com
For further information contact:
Christer Sjoberg, CEO – Loop Tackle Design
Phone + 46 (0)70 -666 86 32
Reid Zoller, CFO – Loop Tackle Design
Phone + 46 (0)76 -877 53 07
Rickard Sjoberg, VP Operations – Loop Tackle Design