It appears as though Fila Korea, which acquired Acushnet in 2011, may be looking to cash in on two of its biggest brands: Titleist and FootJoy.
According to a Reuter’s report citing an unnamed source, Pennsylvania-based Solebury Capital is advising Acushnet on the potential IPO, which could be worth around $1.8 billion.
Fila Korea, along with other South Korean partners, purchased Acushnet for $1.23 billion in 2011. Since then, the company’s annual earnings have increased from about $120 million to $185 million.
Reuters has reported that the IPO has been planned since the acquisition of Acushnet in 2011 in order to maximize shareholder profits, and that it would allow Fila Korea to increase its stake in Acushnet to 33 percent from 12 percent in 2011. The Korea Economic Daily reported that the IPO is expected to be complete by 2016.