RAPALA ACQUIRES ULTRABITE PHEROMONE
Rapala VMC Corporation says it has concluded agreements with Kiotech International PLC and the Centre for Environment, Fisheries and Aquaculture Science (Cefas), to exclusively commercialise Ultrabite branded and patented pheromone technology to the sportsfishing industry and market worldwide.
Fish pheromone technology was developed by Cefas for the important aquaculture and commercial fishing markets to stimulate feeding behaviour of fish, however, it has been recognised that the technology holds great opportunities also for the sportsfishing market.
Rapala said pheromone technology gives an extra dimension to artificial baits, which normally rely mainly upon other senses such as sound and sight, as well as an overall advantage to the use of flesh and live baits.
Rapala added that it has concluded an exclusive licensing agreement directly with Cefas for an initial period of 12 years with a further option for 10 years thereafter for the use of pheromone technology. This direct co-operation, it said, will be the key to future development and success of this important market sector for a long-term basis.
As part of the deal, Rapala said it acquired all intangible assets for the sale of all pheromone products under the license agreement to the worldwide sportsfishing market from Kiotech, including trademarks, business information, customer lists, logos, domain names, etc. At the same time, Kiotech has entered into a variation with Cefas giving up its right to the sportsfishing market
worldwide and a covenant not to compete with Rapala.
The team at Rapala Freetime Australia said they are excited about these agreements and are looking forward to what the future holds for all parties concerned.
For more info, visit www.rapala.com.au