Fila Korea, Ltd. and Mirae Asset Private Equity Group close with Fortune Brands.
Acushnet Company announced that the transaction for its sale from Fortune Brands, Inc. to a consortium led by Fila Korea, Ltd. and Mirae Asset Private Equity, was completed. 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.
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.
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.
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