Fortune Brands Sells Acushnet Co.
By mustang6560 on 5/20/11
After months of speculation, Fortune Brands agreed to sell its golf business Acushnet Co. to a South Korean group led by Fila Sports for $1.23 billion in cash.
Acushnet Co. is the golf division of Fortune Brands and it includes Titleist, FootJoy and Scotty Cameron.
The sale of the business, which includes the Titleist and Footjoy brands, is the first big step toward a planned break-up of Fortune Brands, long an unusual conglomerate with a big spirits portfolio and home and hardware business, in addition to golf products.Fortune Brand announced in December of last year it planned to break up the company and focus on its liquor business. Interesting fact, Fortune Brand owns several popular liquors including Jim Beam, DeKuyper and Knob Creek.
Little did I know I was supporting the same company while I playing Titleist golf balls and drinking Jim Beam. We like our bourbon down south and Jim Beam is probably the unofficial-official bourbon of college-aged kids. It's cheap, tastes alright and it's cheap.
Acushnet Co. Sells
photo by pete tschudy
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Thank goodness! I was worried that Titleist would fall into the wrong hands! This is great news!
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