Acushnet Company and Titlelist, the renowned golf brand and imprint of the wildly popular Scotty Cameron putters, has been acquired by Fila Korea and a private equity firm, according to a news release distributed this morning.
The price tag was $1.225 billion…in cash. Reports say that Fortune Brands, Acushnet’s parent company, expects to see net proceeds of $1.1 billion after taxes and expenses (how’d they pull that off?).
Titleist and FootJoy are among the Acushnet brands that are included in the sale. The company line is: “Together, with our new owners, our team is looking forward to strengthening and building upon the global success of the Titleist and FootJoy brands.”
We shall see. There is some skepticism here that the changes will only be those of strength and progress. History teaches us that when mega companies are acquired by other mega companies, and the further brands get from their original roots, the more likely you are to see unfortunate developments in the overall integrity or quality of the products.
That said, it’s early right now, so Fila Korea should probably get the benefit of the doubt. We hope that they make Titleist proud.