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Sources: Titleist/FootJoy Parent Company Acushnet Preparing To Register For IPO

Golf equipment company Acushnet, the owner of brands including Titleist and FootJoy, is "preparing to register with U.S. regulators as early as June" for an IPO that "could value it" at more than $2B, according to sources cited by Lauren Hirsch of REUTERS. The IPO would come "five years after consumer products conglomerate Fortune Brands sold Acushnet" to South Korean sports apparel company Fila Korea and Mirae Asset Private Equity for $1.23B. Sources said that the Massachusetts-based company could "begin marketing its IPO as soon as the autumn." For Acushnet, its "greatest defense against broader industry woes may be its commanding market share" in Titleist golf balls. Golf balls are "cheaper and more easily lost than golf equipment, making them more frequently replaced." The more rounds of golf people play, the "more balls they will buy" (REUTERS, 5/25).

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