“We look forward to growing the brands around the globe, especially with the opportunities in the emerging markets in Asia,” said Gene Yoon, Fila Korea’s chairman and CEO.
Gene Yoon, Chairman & CEO of FILA Global
A consortium led by sports apparel maker Fila Korea has bought golf footwear, apparel and equipment maker Acushnet Co in a deal worth US$1.23bn.
Acushnet is one of the largest golf equipment companies in the world, with annual sales of more than $1.2bn in 2010. Its brands include Titleist golf balls and clubs, and FootJoy shoes, gloves and performance outerwear.
“Together, with our new owners, our team is looking forward to strengthening and building upon the global success of the Titleist and FootJoy brands,” said Wally Uihlein, Acushnet chairman and CEO.
Acushnet will remain as a standalone company from Fila Korea, with its worldwide headquarters staying in Fairhaven, Massachusetts.
The new ownership group includes Fila Korea Ltd, which owns 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.
“We look forward to growing the brands around the globe, especially with the opportunities in the emerging markets in Asia,” said Gene Yoon, Fila Korea’s chairman and CEO.
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