Fila/Titleist

Fila Korea and Mirae Asset buy Titleist and Footjoy brands

A consortium of Korean buyers led by Fila Korea and Mirae Asset buy the Titleist and FootJoy golf brands for $1.23 billion.

Fila Korea and Mirae Asset are set to pay $1.23 billion for the Titleist and FootJoy golf brands after winning an auction against worldwide competition.

The Titleist and FootJoy brands are owned by Acushnet, which is based in Massachusetts and is a subsidiary of Illinois-based Fortune Brands, which also owns the Jim Beam alcoholic beverage business. It put Acushnet on the block last year as part of its plan to become a pure-play liquor company named Beam.

The auction was keenly contested, according to a source close to the deal, by a field of bidders that included multi-brand sports companies such as Nike and Adidas...

¬ Haymarket Media Limited. All rights reserved.

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