Titleist: Acushnet Prepares To Register For IPO

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Reuters' Lauren Hirsch with the not-totally-surprising news that Acushnet, makers of Titleist and Foot-Joys, is preparing to register for an initial public offering as early as June, with a potential valuation at more than $2 billion.

Hirsch writes:

The IPO would come five years after consumer products conglomerate Fortune Brands sold Acushnet, under pressure from activist investor William Ackman, to South Korean sports apparel company Fila Korea Ltd (081660.KS) and Mirae Asset Private Equity for $1.23 billion.

Acushnet is now working with investment banks that include Morgan Stanley (MS.N), JPMorgan Chase & Co (JPM.N), UBS Group AG (UBSG.S) and Nomura Holdings Inc (8604.T) on the IPO, the sources said on Wednesday.

There was also this buried lede...

Golf balls are cheaper and more easily lost than golf equipment, making them more frequently replaced. The more rounds of golf people play, the more balls they will buy.

Combined with the Taylor Made sale, this has the potential to drastically reshape the industry as well as those who rely on the marketing dollars of the two companies. Stay tuned...