Acushnet Company announced Friday that the transaction for its sale from Fortune Brands, Inc. to a consortium led by Fila Korea, Ltd. and Mirae Asset Private Equity was complete. The sale was announced on May 20.
Including its brands of Titleist and FootJoy, Acushnet is one of the largest golf equipment companies in the world with annual sales of more than $1.2 billion in 2010. Acushnet will remain as a standalone company through separate operation from Fila Korea, with its worldwide headquarters remaining in Fairhaven, Mass.
“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 of Acushnet. “Together, with our new owners, our team is looking forward to strengthening and building upon the global success of the Titleist and FootJoy brands.”