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Posted: July 29, 2011
• Acushnet Company Press Release (.pdf)
• Fortune Brands Press Release (.pdf)
Fairhaven, MA (July 29, 2011) – Acushnet Company announced that the transaction for its sale from Fortune Brands, Inc. to a consortium led by Fila Korea, Ltd. and Mirae AssetPrivate Equity, was completed today. The sale was announced on May 20.
Acushnet Company is one of the largest golf equipment companies in the world with annual sales of more than $1.2 billion in 2010. Its premium brands include Titleist, the #1 ball in golf and a leader in high performance golf clubs, and FootJoy, the #1 shoe, glove and performance outerwear brand in golf.
“The Fila Korea and Mirae Asset Private Equity group understands and appreciates our golf industry leadership, passionate associates, and enduring culture,” said Wally Uihlein, Chairman and CEO, Acushnet Company. “Together, with our new owners, our team is looking forward to strengthening and building upon the global success of the Titleist and FootJoy brands.”
Acushnet will remain as a standalone company through separate operation from Fila Korea, with its worldwide headquarters remaining in Fairhaven, Mass. The transfer in ownership will be seamless to consumers and customers, enabling Titleist and FootJoy to continue their momentum in the marketplace.
The new ownership group includes: Fila Korea, Ltd., the owner of the Fila brand globally; Mirae Asset Private Equity, the largest private equity firm in Korea; and the National Pension Service of Korea, the fourth largest pension fund in the world. The Korea Development Bank, Korea’s largest government-owned bank, is also providing financing for the acquisition.
“We are excited and proud to be part of the storied history of successful growth and evolution of Titleist and FootJoy - two revered and world-class brands," said Gene Yoon, Chairman and Chief Executive Officer, Fila Korea, Ltd. “We are impressed by the decades of accomplishments achieved by the management team at Acushnet, and fully support its continued focus on the core golf expertise at which they excel. We look forward to growing the brands around the globe, especially with the emerging opportunities in the Asian-markets.”
Posted: July 25, 2011
CONSISTENCY IN THE CLUTCH
Russ Cochran, Kyung-Tae Kim Lead 4-Win Week for Titleist.
Fairhaven, MA (July 25, 2011) – Demonstrating grace under pressure and consistency when it mattered most, Russ Cochran
trusted his Pro V1 golf ball to capture the first major title of his
career, topping a world-class field at the Senior Open Championship.
And in Japan, Titleist Brand Ambassador Kyung-Tae Kim
trusted the Pro V1x golf ball and Titleist equipment to claim his first
win of the season on the Japan Golf Tour, capping a steady year in
which he has finished no worse than tied for 12th in six starts.
Cochran and Kim’s victories headlined a week in which four champions on
the Worldwide Professional Golf Tours put their trust in a Pro V1 or Pro
V1x golf ball.
Titleist golf ball players have now earned 96 victories across the
Worldwide Professional Tours in 2011, more than seven times the nearest
competitor with 13 and more than all golf balls combined. In total,
11,707 players have teed up Titleist golf balls in competition on the
2011 Worldwide Professional Tours, more than six times the nearest
competitor with 1,775 and more than all competitors combined.
Posted: July 12, 2011
PERFORMANCE IN THE CLUTCH
Stricker, Donald, Ryu All Trust Titleist in Dramatic Victories
Fairhaven, MA (July 11, 2011) - Global success continued for Titleist across the world’s professional tours this week as Brand Ambassador Steve Stricker
trusted the Pro V1x golf ball and a full bag of Titleist equipment to
capture the John Deere Classic for a record third consecutive time. He
was joined in the Titleist winners’ circle by Luke Donald, who extended his World No. 1 ranking at the Barclays Scottish Open with his third victory of the year. In addition, So Yeon Ryu topped fellow South Korean Hee Kyung Seo in a three-hole playoff to make her first career LPGA Tour win a major at the U.S. Women’s Open. Jeff Sluman won the First Tee Open for the third time in four years on the Champions Tour.
Posted: June 28, 2011
MAJOR SUCCESS. INSPIRING PERFORMANCE.
Yani Tseng, Pablo Larrazabal, Erik Compton Lead Titleist to Six-Win Week.
Fairhaven, MA (June 27, 2011) - History was made by Titleist golf ball loyalists this week, as 22-year old Yani Tseng
convincingly captured the Wegmans LPGA Championship to become the
youngest player to ever win four major championships. The No. 1 player
in women’s golf relied upon the Pro V1x to finish 10 shots clear of the
On the European Tour, Titleist Brand Ambassador Pablo Larrazabal displayed
consistency and perseverance en route to capturing the BMW
International Open. Relying upon the Pro V1x golf ball and a bag full
of Titleist equipment, Larrazabal fired four consecutive rounds in the
60’s and won with a birdie on the fifth sudden death playoff hole.
In one of the most emotional victories in any sport, Brand Ambassador Erik Compton
also relied upon Titleist equipment from tee-to-green to win the
Nationwide Tour's Mexico Open. It marked the first career victory for
Compton, whose inspiring performance came three years after his second
Titleist golf ball loyalists also posted victories on the Canadian,
Korean and Japan tours to advance Titleist’s year-to-date victory count
across the worldwide professional tours to 83, more than seven times the
nearest competitor with 11.
Posted: June 13, 2011
Frazar tops Karlsson in Titleist Brand Ambassador Playoff. Leads Titleist to Seven-Win Sweep.
Fairhaven, MA (June 13, 2011) - A dream week for Titleist Brand Ambassador Harrison Frazar set the tone for Titleist players competing across the worldwide professional tours.
Frazar's breakthrough victory at the PGA Tour's FedEx St. Jude Classic
made it a perfect 7-for-7 sweep for Titleist golf ball loyalists in the
week's biggest events, including Pro V1x loyalist Robert Rock's first European Tour title and Pro V1x loyalist Yani Tseng's second LPGA Tour victory of the season.
Seventy-three players have trusted Titleist golf balls to victory
across the worldwide professional tours so far in 2011, more than six
times the nearest competitor with 11 and more than all competitors
And this week at Congressional, Titleist will be the #1 ball at the U.S. Open for the 63rd consecutive year.