Investor Group to Acquire Field & Stream Licensing Business

New Owners Aim to Expand the Venerable Brand's Sales and Marketing Reach

Aug 28, 2006, 01:00 ET from Field & Stream Licenses Company

    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
     "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