WESTPORT, Conn., Aug. 28 /PRNewswire/ -- A group of investors led by Barry Sternlicht, Michael Tewey and Larry Martin announced today that they have purchased the Field & Stream Licenses Company and its trademark assets. Terms of the transaction were not disclosed. The company will be based in Westport, Connecticut and run by Mr. Tewey and Mr. Martin on a day-to-day basis. Mr. Sternlicht will serve as the company's Chairman. Founded 134 years ago by Gordon & Ferguson Co., Field & Stream Licenses Company currently owns more than 115 U.S. and international trademark registrations covering more than 600 products, along with 'Intent to Use' registrations for an additional 250 products. It also owns the Field & Stream trademark for products in 43 countries including China and the European Union. The company is not associated with Field & Stream Magazine, which is owned by Time Warner Corp. The investment group intends to leverage the iconic Field & Stream brand into new high-quality, affordably priced outdoor products -- ranging from apparel, home products, sporting equipment and food -- and other services. The group will pursue a series of new relationships with manufacturers, private label suppliers and mass retailers who can deliver the quality products consumers expect from Field & Stream to a wide audience. In addition, the group expects to develop new sales and distribution channels through Web-based partnerships. "This is an incredible opportunity to expand perhaps the best recognized name in outdoor recreation into numerous untapped products and markets," said Mr. Tewey. "Studies have shown more than two-thirds of all Americans participate in at least one outdoor lifestyle activity each year and 95 percent of all consumers know the Field & Stream brand name. The brand brings instant credibility to a wide array of outdoor product categories. We intend to quickly support and enhance the company's 20-plus licenses. Our future licensees will be hand-picked, with strong positions in the outdoor retail market, excellent product development skills and low-cost sourcing that will help us drive growth for this outstanding brand." "This transaction represents a significant and rare opportunity to acquire a brand with a rich heritage that is universally recognized for its reliability and intricate knowledge of the outdoor lifestyle," said Mr. Martin "Our proven track record of success in the branded licensing space combined with the enormous growth opportunity for Field & Stream leaves the company uniquely positioned to capitalize on the trend toward product licensing in the outdoor market space. Our goal, quite simply, is to find the right licensing partners with the distribution capabilities to help build this brand." Mr. Sternlicht is Chairman & Chief Executive Officer of Starwood Capital Group, a private investment firm he formed in 1991. He also serves as Chairman of the Board of Groupe Taittinger, Societe du Louvre and Baccarat. For the past 14 years, he has structured more than 275 separate investment transactions with a cost basis of more than $30 billion. From 1995 through 2004, Sternlicht was Chairman and CEO of Starwood Hotels & Resorts Worldwide, Inc., a company he founded in 1995. Today, Starwood Hotels is one of the leading hotel and leisure companies in the world with more than 750 properties in 80 countries. Mr. Sternlicht is widely credited as a dynamic and innovative hotel leader, having created new products and programs with immediate global appeal, such as W Hotels and Westin's "Heavenly Bed" and "Heavenly Bath." Mr. Tewey has more than 25 years experience in major consumer product corporations and as a highly successful entrepreneur. He co-founded Boston Trader Kids, a manufacturer of children's apparel, which after eight years of excellent performance was sold to Oshkosh B'Gosh. Prior to founding Boston Trader Kids, he spent 10 years as Vice President of Sales at Cheesebrough Ponds, at the time the largest branded children's wear company in the United States. Mr. Martin has a long and distinguished career in the real estate business. Among his current projects is the Orvis Shorefox development, a more than $300 million, 1,533 acre Orvis-branded lifestyle community along the Colorado River in Granby, Colorado. He also oversees the development of numerous off-site fishing and hunting facilities around the country. Additionally, Mr. Martin is a principal of the Grand Elk Resort & Club, a 686-home development located in Grand County, Colorado. He has been advising business owners on structuring and ownership issues since 1992.
SOURCE Field & Stream Licenses Company