Report: Parent Company of Titleist, Footjoy to File for IPO

Thursday May 26th, 2016

Fan of ProV1s? You might soon be able to buy stock in them. 

Or in their manufacturer, anyway.  

According to a Reuters report, Titleist and Footjoy could be part of an IPO involving the brands' parent company Acushnet. 

The report says that Acushnet is preparing to register for the IPO as early as next month and could include a valuation of roughly $2 billion. Acushnet reportedly posted $200 million in 12-month gross earnings. 

Coming on the heels of Adidas announcing that it is trying to sell TaylorMade, this move suggests the ball market remains strong amid stagnating growth in the equipment market. 

Footjoy and Titleist produce what are referred to as consumable goods, such as balls and shoes, that must regularly be replaced. Golf clubs, on the other hand, are durable goods, with less turnover. 

Acushnet and the three investment banks with which it is reportedly structuring the deal all declined Reuters' request for comment. 

 

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