Shimano Europe and Rapala VMC Corp. have agreed to terminate many of their distribution agreements across Europe and South-Africa by 2020. The two companies, which have been partners for more than 26 years, are now willing to control their own brands in a series of countries.
Specifically, the two parties have agreed to end the distribution of Shimano-, G. Loomis- and Power Pro- branded fishing tackle products (“Shimano Products”) in France, Switzerland, Spain and Portugal effective July 1, 2020. Until then, the respective distribution companies, fully owned by Rapala, will continue to distribute Shimano products in these countries on an exclusive basis. Also, the two companies have agreed to terminate the distribution of Shimano Products in Norway, Finland, Sweden, Denmark, Greenland, Iceland, Lithuania, Latvia, Estonia and South Africa effective Oct. 1, 2020. Until this date, the respective distribution companies, fully owned by Rapala, will continue to be the exclusive distributors of Shimano products in these markets.
In addition, the two companies have agreed to end the distribution of Rapala-, Storm- and Dynamite-branded fishing tackle products in Germany, Belgium, the Netherlands, Luxembourg and Italy effective April 1, 2019. The distribution of Rapala- and Storm-branded products in the U.K. and Dynamite-branded products in Turkey by Shimano will also end on the same date. Until then, the respective Shimano distribution companies, fully owned and controlled by Shimano, will continue to distribute the fishing tackle products of Rapala brands in all of these markets on an exclusive basis.
Meanwhile, there will be no change in the distribution agreements regarding Shimano- or Rapala Group-branded products in jointly-owned distribution companies controlled by Rapala in Russia, Belarus, Kazakhstan, Hungary, Czech Republic, Bulgaria, Romania, Slovenia, Croatia, Serbia, Kosovo, Bosnia, Macedonia, Montenegro, Albania and Moldova. The structure and operations related to the distribution agreements in these countries will not change.
