Titleist sold to the Koreans

Titleist Pro V1 golf ballsIconic golf brands Titleist and Footjoy have been sold to the Koreans but for all the dedicated Pro V1 golf ball users out there don’t panic, by all reports it will be business as usual for consumers.

It has been announced in the US that Fortune Brands has agreed to sell the Acushnet Company, makers of Titleist, Footjoy and Pinnacle golf products, to a partnership that includes sports clothing giant Fila Korea.

It has been known for some time that Fortune was planning to separate its three main businesses and a deal has been announced to unload Acushnet for a reported $US1.225 billion in cash to a consortium including Fila and Korean private equity giant Mirae Asset Private Equity.

Titleist’s Pro V1 golf balls are touted as the most successful ball of all time, selling more than 900 million balls in the past decade.

Fila believe they can flog even more Titleist products in Asia.

Gene Yoon, Chairman and CEO of Fila Korea, said, “With our extensive knowledge and reach in Asia, we believe that the Acushnet brands have incredible new opportunities for growth in the emerging markets in Asia.”

The good news is that industry commentators say there should be no adverse affect for golfers (47 percent of the Acushnet Company’s 2010 sales were outside the U.S).

The Acushnet Company will operate as a standalone entity and the worldwide headquarters will remain in the US.

Sources close to the proceedings say it will be  “business as usual” with critical barometers such as product development, product offerings, availability and pricing largely unaffected in the short term.

 

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Brian is an award winning golf writer and is the founder and editor of Australian Senior Golfer. He is a former Sydney journalist who had little interest in golf till he hit his first ball at the age of 49 (and a half). Since then golf has just about overtaken his life. Brian founded ASG in April 2008 and has since covered every Australian Open, Presidents Cups, World Cups and numerous other big men’s and women’s tournaments, spending days inside the ropes with the likes of Tiger Woods, Phil Mickelson, Rory McIlroy, Jordan Spieth, Tom Watson, Fred Couples, Greg Norman, Adam Scott, Jason Day, Karrie Webb, and many others. He has also played in, and reported on, numerous amateur tournaments, particularly senior and veteran events, around the country. Brian is a member of the Australian Golf Media Association and won the award for Best News Report for 2016 - 2017

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