Acushnet Company Announces Sale to Fila Korea and Mirae Asset Private Equity

Posted: May 20, 2011

Earlier today at Acushnet Company's world headquarters in Fairhaven, Mass., Chairman and Chief Executive Officer Wally Uihlein made an important announcement concerning the future of Acushnet Company and our industry-leading Titleist and FootJoy brands.

We'd like to share all of the details now with Team Titleist.

It was about five months ago that we came to Team Titleist with the news that our parent company, Fortune Brands, Inc., had approved a plan for the sale or tax-free spin off of Acushnet Company.

This morning, Uihlein informed us that Fortune Brands has signed an agreement for the sale of the company to a group led by Fila Korea, Ltd., the owner of the Fila brand globally, and Mirae Asset Private Equity, the largest private equity firm in Korea.

Uihlein said Fila Korea and Mirae Asset will maintain Acushnet – one of the largest golf equipment companies in the world with annual sales of more than $1.2 billion in 2010 – as a standalone company, keeping the current management team in place and worldwide headquarters (pictured) in Fairhaven, Mass.

“The Acushnet Company has long been the trusted steward of two of golf’s most revered and iconic brands, and has perpetuated the longest running records of golf equipment success in the game,” said Uihlein.

“The Fila Korea and Mirae group understands and appreciates our golf industry leadership, passionate associates, and unique and enduring culture. Together, with our new owners, our team is looking forward to strengthening and building upon the global success of the Titleist and FootJoy brands.”

For more details on the acquistion, please see the press releases linked below from both Acushnet Company and Fortune Brands.

Acushnet Company Press Release (.pdf)
Fortune Brands Press Release (.pdf)

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Tommy H

Thanks for the update.  Sounds like everything is in good hands and should be no problem going forward.

Finn Train

I get the feeling that they won't mess with the success that has been created over a great deal of time. I have had friends that have worked for Titleist and for me personally it is the most respected name in any sport!

Ron S

WOW!  I hope the quality and great name Fortune Brands has kept will continue.  It sounds like the management/development/and marketing team will remain in place which will hopefully insure the integrity of Titleist.  It is a great product(s).

Doug S

Sounds like a good fit, Fila clothing to compliment Footjoy shoes and Titleist balls and clubs. !

Bill G

I hope going forward the new owners will not get in a

cost cutting mode to increase profits that results in a degrading of the quality of the Titleist/Footjoy products. I recently purchased a pair of Dryjoy Tour shoes and saw that they were made in China. That rerally disturbs me knowing that China has a reputation for cutting corners so that they will make more money. I will evaluate these shoes very closely as to how long they last compared to my old Dryjoys.

Dean D

I hope you continue to be the true industry leader, thanks

jeff h

I have a virgin sleeve of Club Specials, anybody at Acushnet remember those?

Gerry N

Just sold my FO stock. Best of luck with the "Skinny Girl" brand.

As a life long player of Titleist equipment and user of FootJoy shoes and apparel, my best wishes to all in Fairhaven. I pray that you will remain the industry leader and maintain your quality and innovation.

Ray C

I'm glad that the company is allowed to continue unabated, but it does concern me that many of our american industries are continuing to be sold to foreign interest.  I will continue to support Titleist as I feel that they still have the best product and staff to support it.  A company is only as good as the people who run it and Titleist is a proven winner.

Titleist Fan 867

Please do not change a thing, these products are awesome! love J.J.