The golf brand TaylorMade is changing hands, with a Korean private equity firm acquiring the company amid a global boom in the sport.

Seoul-based Centroid Investment Partners has agreed to buy TaylorMade from New York-based KPS Capital Partners, Centroid said in a statement Tuesday.

Terms weren’t disclosed. The Korea Economic Daily newspaper said the deal was worth 1.8 trillion won ($1.6 billion), citing unidentified people.

TaylorMade, established in 1979, makes golf clubs, balls and accessories used by top pros such as Dustin Johnson, Tiger Woods, Rory McIlroy, Maria Fassi and Sierra Brooks.

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Source: Bloomberg

By John J Edwards III