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