Equipment
Report: Fila to spin off Titleist, Footjoy?
The Acushnet Company, which owns Titleist and Footjoy, is in talks with U.S.-based advisory firm Solebury Capital about a possible initial public offering (IPO), according to a report from Reuters.
Acushnet was acquired by Fila Korea and its South Korean partners including Mirae Asset Private Equity in 2011 for $1.23 billion. It was previously owned by Fortune Brands.
Since 2011, Acushnet’s earnings have increased from $120 million to an estimated $185 million in 2014.
The Korea Economic Daily reported that Acushnet was expected to complete listing by 2016, most likely in New York.
Under the terms of the 2011 acquisition, Fila’s stake in Acushnet will increase from 12 percent to 33 percent with the IPO, which will also clear any liabilities incurred in the original purchase.
This week, we have our Tour Photographer, Greg Moore, on the ground at the OccuNet Classic at Tascosa Golf Club in Amarillo, Texas, for the 14th event of the 2026 Korn Ferry Tour season. With that, we see some great things in the Lead Tape Report as we roll into Amarillo.
Joel Thelen
Monday Qualifier, Joel Thelen is in the field this week. He has played on the Korn Ferry Tour for a full season in 2023, and he is back in action this week. A couple of clubs caught my eye this week in his bag.
First off: His trusted Titleist 816 H2 hybrid. This club came out in October of 2015, and it still remains strong in the bag. Also, take a look at this Odyssey White Hot OG 7, putting a capital S in the 7S model. This custom neck has some impressive lean for an arm-lock-style putter. The bottom of the putter is covered in tape for optimal weighting.
Mitchell Meissner
Taking a look at Mitchell Meissner’s bag this week, we have some great lead tape coverage. Top to bottom working from fairway metals, irons, and wedges. We can see on the short irons and wedges that there is tape at the base of the grip, adding a little counterbalance. Along with that, some tape on the short irons and wedges as well. Moving to his putter, he rolls the Odyssey 7 Bird putter. Meissner putts left-handed and strikes the ball right-handed.
Bud Cauley had >14 clubs in his bag when photographed prior to the Memorial Tournament.
Driver: Titleist GTS2 (8 degrees)
Shaft: Fujikura Ventus Black 6 X
3-wood: Titleist GTS3 (15 degrees, B1 SureFit setting)
Shaft: Mitsubishi Chemical Tensei 1K Pro Red 70 TX
7-wood: Titleist GTS3 (21 degrees, D1 SureFit setting)
Shaft: Mitsubishi Chemical Tensei 1K Pro Red 80 TX
Irons: Titleist U505 (3), Titleist 620 MB (4-9)
Shafts: Fujikura Ventus Black HB 8 X, True Temper Dynamic Gold Tour Issue
Wedges: Titleist Vokey Design SM11 (48-10F, 52-12F, 56-14F), WedgeWorks (60-K*)
Shafts: True Temper Dynamic Gold Tour Issue S400
Putters: Scotty Cameron Tour Prototype, Scotty Cameron GOLO 6.3 Prototype
Grips: Golf Pride Tour Velvet Align
Ball: Titleist Pro V1
In our forums, one user has offered up a prompt for the true sickos, inviting fellow forum members to share every set of irons they’ve ever owned. As to be expected, this is a lengthy forum topic.
@Lamosteve began:
Can you name every set of irons you’ve owned? Here’s mine
Spalding Dots
Spalding Eclipse
Ram Lazer FX
Lynx Parallax
Mizuno EZ Comp
Ben Hogans
Cleveland CG Red
Taylor Made R9s
PING i20
PING iE1
Taylor Made M6
Our members in the forum have been offering up their own collections. Here are a few posts from the thread, but make sure to check out the entire discussion and have your say at the link below.
- macedan: “Started with a hand-me-down Golden Bear set from my brother when I was in high school, never really played more than once a year or got into the game until about summer of 2017. First purchased a set of Cleveland CG4’s (I actually really miss this set sometimes, soft & not terribly large for a GI iron), moved into Nike Vapor Fly’s by the end of the year. Those lasted until spring of 18 when I decided I wanted new, so I traded them in for TM Rbladez. Honestly, although I liked the Rbladez, poor decision on my part, I think this was really about the only time so far that after a week or two I was kicking myself for not staying with what I had. Rbladez stayed with me until late last summer when I switched to P790’s and (knock on wood) I am hoping this will be my longest lasting set.”
- JimmyC59: “MacGregor Jack Nicklaus Triple Crown. Palmer The Standard. Still play these.”
- jgrzask: “Tommy Armour 845u
Mizuno MP-32
Mizuno MP-33 (2 sets)
Bridgestone J33cb – still own
Srixon i-302 (2 sets) – still own
Tourstage X-Blades – still own
Mizuno Hot Metal – still own
Nike Forged Blades – still own
Titleist 714 AP1 – still own
Cobra Forged SS – still own”
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J.T. Poston’s winning WITB: 2026 Memorial Tournament
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Cameron Young’s winning WITB: 2026 Cadillac Championship
Bud Cauley WITB 2026 (June)
Bud Cauley had >14 clubs in his bag when photographed prior to the Memorial Tournament. Driver: Titleist GTS2 (8 degrees) Shaft: Fujikura...
Hannah Green WITB 2026 (June)
Driver: Titleist GTS3 (10 degrees, D4 SureFit setting) Shaft: Mitsubishi Chemical Diamana RB 53 S 3-wood: Titleist GT3 (15 degrees,...
Asterisk Talley WITB 2026 (June)
Driver: TaylorMade Qi4D (9 degrees) Shaft: Fujikura Ventus Blue 6 S 3-wood: TaylorMade Qi4D (16.5 degrees) Shaft: Fujikura Ventus Blue...
Brianna Do WITB 2026 (June)
Driver: Callaway Quantum Triple Diamond (9 degrees) Shaft: KBS PGW 3-wood: Callaway Elyte Titanium (15 degrees) Shaft: KBS PGW 5-wood:...
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Mike Rafone
Jan 10, 2015 at 6:21 pm
Titleist, in parts, is worth WAAAAY more than the sum as a public company. Watch the hard money investors rev up the price tag by talking IPO when the truth is by selling the ball, putter, club and shoe business separately will ultimately bring the institutional investors their sought-after ROI. Bang!
annsguy
Jan 8, 2015 at 2:49 pm
When the dust settles it will be Bridgestone, Ping and Wilson. These companies are focused or re-focused on the golfers who actually drive the cash register. All in for the long haul.
Turd Ferguson
Jan 8, 2015 at 6:32 pm
Nike, already got the channels so why not?
Matthew Carter
Jan 8, 2015 at 12:09 am
Mizuno baby!
WarrenPeace
Jan 7, 2015 at 3:16 pm
Bad move-Its like the Hogan irons or Powerbuilt woods of old. They just got made cheaper and are now considered cheap crap where before they were real players clubs. The same will now happen to Titleist and it’s sad- I hope they don’t mess up the ball along with the clubs?? I do love my AP2 irons and 913 woods. I can’t say the same for the 915’s at this time…..I still hit my 913’s longer and they sound better. Trackman is great but the only true numbers are the ones on the course in play.
Ct
Jan 7, 2015 at 8:42 pm
Titleist, this is what you do… Make the pro v1 and x 332 dimples so they side spin a little less that’s were the money is for you. Drop everything else! Drivers, woods, hybrids, irons and bags suck. Vokey and Cameron spin off and do their own thing, they’re good enough to survive on they’re own. The fj’s horrible, out of date and ugly as usual!
Wayz2go
Jan 7, 2015 at 3:02 pm
Agree with these posts. I tested the 915 Driver on Trackman and its performance was so minimal over my 913 driver….. why spend $400.00? Looking forward to testing the Nike drivers.
Golfraven
Jan 7, 2015 at 2:54 pm
IPO is a bad idea.
JEFF
Jan 7, 2015 at 1:10 pm
I have a few pair of fila golf shorts. They arena expensive and the best shorts I have ever purchased… 22.00 at Kohls… and who cares!
Duffer Pauly
Jan 7, 2015 at 12:00 pm
Who cares? Just keep hacking away with Top Flites!
Tin Whistle
Jan 7, 2015 at 11:27 am
I read the release as the ‘hard money’ investors will exit (no surprise there) and Fila intended to up its stake…
T-MAC
Jan 7, 2015 at 11:24 am
Be interesting to see what this may do (if anything) to the Scotty Cameron brand.
NYer
Jan 7, 2015 at 8:55 pm
It’ll make everyone who buys one an exceptional putter! Just like they do now.
^sarcasm^
Prime21
Jan 7, 2015 at 10:59 am
Bradford hit the nail squarely on the head. By industry standards (1 year), Titleist has a long product cycle (2 years). With that additional year of research one would expect some type of game changing technology, which we haven’t seen from Titleist in quite some time. The original SureFit tech in the 910 driver as well as the tech in the original AP iron series has remained static. Throw in a speed chamber & you have the 915. Talk about more forgiveness and change the color of the badge and you have the 912 series. While I believe that their equipment looks good and performs well, I don’t see the same gains in technological advancement compared to the likes of T/M, Callaway, or Nike. I don’t think it’s a stretch to say that Titleist has borrowed the other companies ideas more than it has created it’s own.
In the end, a spinoff could spell big trouble for a brand that has relied heavily upon golf ball sales and brand loyalty to keep them afloat. I can’t quote percentages, but I would guess that their hardgood market share has consistently dropped over the last 4-5 years.
In the end, if they don’t get things fixed, they could be stuck making FootJoy Classics, while the rest of the industry is already selling athletic footwear for golf.
Golfraven
Jan 7, 2015 at 2:47 pm
Would still love to buy a pair of Classics though. Have the Icons and bought 2 pairs of spikekess golf shoes from FJ in the last two years. IMO Titleist and FJ still go with time. Better timeless design in clubs and cloths then the hip stuff you get from Nike, Adidas, Puma, Oakley and Co.
Residente
Jan 7, 2015 at 6:55 am
And the last man standing is Ping!
Joseph Dreitler
Jan 7, 2015 at 12:26 pm
You took the words right out of my mouth. The only 2 major companies left standing that haven’t been peddled are Ping (assume still family controlled) and Nike (not family controlled but not in debt so that it has to cheapen the product, R&D, customer service and quality control.
Lancebp
Jan 7, 2015 at 3:37 pm
Ping is indeed 100% family owned. I have a friend who’s worked there 40+ years and is one of the higher-level executives, but he’s not a Solheim and will never have one share.
Terry Headley
Jan 7, 2015 at 8:32 pm
What about Mizuno? They are still family owned and a manufacturing company not a Marketing company.
Joseph Dreitler
Jan 6, 2015 at 9:54 pm
Fila acquires Acushnet and intends to spin off Titleist? I’ve only been a lawyer for 36 years, but Fortune Brands could have done that to escape the greed of Pershing Capital. Can someone give me a single example of a company that spun off assets to avoid the clutches of a speculator demanding immediate returns. In all instances the results are the same. The buyer has borrowed money to buy it, they need to pay off the money they borrowed so they cut R&D, marketing, fire employees, move everything to China, use cheaper ingredients/components. The market share goes down but the savings pump up earnings – for awhile. It’s a simple formula used by all buyers of companies spun off in this way. Would love to be wrong, but keep your eye on the quality and new products from Titleist over next 3 years.
bradford
Jan 7, 2015 at 7:39 am
Titleist “aficionados” will never admit the quality has dropped, although R&D from acushnet has already stopped. Choose three successful technologies from other companies and cramming them into your new product just shows a lack of initiative.
I hate to see the ball go though.
A
Jan 7, 2015 at 8:55 am
I’m not financial wiz but I am a Titleist aficionado and I’d REALLY hate to see it slip. Maybe it already has? I do not like the new 915 woods at all.
Jimmy O
Jan 6, 2015 at 5:59 pm
This will be interesting to follow. At least Taylor Made and Cobra have the corporate umbrella of Adidas and Puma, respectively.
c masty
Jan 6, 2015 at 4:01 pm
The public market will hate this stock. The only way they will be able to grow is through acquisition (debt). Their earnings and margins for the forseeable future will be flat to declining on a product line basis and R&D budgets will be scrutinized to the point of non-existence. I guess if they want to be a big boy, they can try the Brunswick model and rinse/repeat that whole scenario. I would rather see them privately owned or owned by a PE firm before on the public market. I love Titleist but I don’t see this as good for the brand. Hope I’m wrong.
David
Jan 6, 2015 at 5:07 pm
Like the idea of a PE firm too. I’d hate to see the quality products that come out of Titleist be turned into mass merchandise just to generate more sales.
Cwolf
Jan 6, 2015 at 6:58 pm
Could not agree with you more. They will not be able to organically grow at a rate to please Wall Street. This is a horrible idea for Fila and the Titleist brand. I hope that Fila has started this rumor to solicit a buyer rather that really spin Titlesit off….a spin off is just a horrible, awful, terrible idea.
cmasty
Jan 6, 2015 at 9:10 pm
Maybe its an Asian move? Being fila/korean, they are probably better positioned than most golf companies to take advantage of the Asian market (I think this is the only growing golf market, globally).
Tom Bowles
Jan 6, 2015 at 3:30 pm
Increase the value even more, then sell it off.
1883atlantics
Jan 6, 2015 at 3:15 pm
slippery slope. it leads to the shareholders’ profit being the primary motivating factor and as such could very well dilute the conservative reputation Titleist and FJ currently hold. The demand for more and more profit could lead to increased product release cycles, in light of the success that TMAG and Callaway had/have.
golfing badger
Jan 6, 2015 at 2:18 pm
juggernaut…a legit move
Milton
Jan 6, 2015 at 2:01 pm
crazy