TaylorMade acquires Nassau Golf to expand golf ball business Golf equipment maker makes its first acquisition under Centroid’s ownership
Translated by Ryu Ho-joung 공개 2021-11-10 08:12:09
이 기사는 2021년 11월 10일 08:09 thebell 에 표출된 기사입니다.
US-based golf gear maker TaylorMade Golf has acquired Nassau Golf in a move to expand its golf ball operations.The deal, which was announced a week ago without financial details, was the company’s first acquisition after the golf equipment maker was acquired by Seoul-based private equity firm Centroid Investment Partners in August this year.
Founded in 1969, Nassau Golf has grown with its original equipment manufacturing business. Its relationship with TaylorMade began in 2005, with the companies working together to launch the world's first five-piece golf ball in the form of the Penta TP in 2010. Discount retailer Costco’s Kirkland Signature golf balls are also made by Nassau Golf.
TaylorMade entered into discussions to acquire Nassau Golf even before it was bought by Centroid Investment. Nassau Golf recorded a 2.2 billion won ($1.9 million) operating profit on revenue of 33.8 billion won in 2020. Its name will be changed to TM Golf Ball Korea.
The acquisition is expected to help TaylorMade expand its presence in the golf ball market. Globally, TaylorMade holds the largest market share of 24% in the golf equipment market, followed by Callaway (23%) and Titleist (14%). In contrast, its share in the golf ball market only stands at 11%, with the market dominated by Titleist with a 46% share.
“This acquisition further supports TM’s strategic plan to create vertical integration in the company’s golf ball supply chain,” David Abeles, TaylorMade Golf’s chief executive, said.
With Nassau Golf’s plant in Cheongju, North Chungcheong Province, TaylorMade now has golf ball manufacturing facilities in three locations globally, alongside those in Carolina in the US and Taiwan. (Reporting by Se-hun Jo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진