Titleist's parent company has taken another step toward an initial public offering (IPO) of stock for the golf giant.
Acushnet Company, parent of Titleist, FootJoy and Pinnacle, has spoken to several banks about the possibility of a stock offering in 2016, according to multiple reports, including from Bloomberg Business. The size and scope of the IPO would be determined with the bank selected, but a report suggests the company could be valued at $2 billion, an increase of $200 million over an estimate at the start of the year when talk of an Acushnet IPO began.
Acushnet appears to be on its original track in trending toward a stock release on 2016, most likely on the New York Stock Exchange. It would be a payoff for Fila Korea and Mirae Asset, which combined to buy Acushnet in 2011 for $1.23 billion.