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.
By John J Edwards III
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.