Acushnet, the parent company of Titleist, FootJoy and Pinnacle, has filed paperwork with the Securities and Exchange Commission declaring its intention to make an initial public offering of company stock.
Pretty soon, you'll (probably) be able to buy ticker sign GOLF.
The company made the 300-page filing on Monday, the day after the 2016 U.S. Open, detailing all kinds of information about the company, including its $1.5 billion in annual net sales. The data shared by Acushnet also shows an upward trend line in sales, going from $1.336 billion in 2011 to $1.503 billion in 2015. TaylorMade-adidas Golf is in the $1.1 billion range, while Callaway Golf, the only publicly traded major golf manufacturer, boasts about $900 million in annual sales.
What might also intrigue is the breakdown of Acushnet's sales, which would probably be thought of as largely related to their golf ball business. And while that's true, that percentage is a plurality, not a majority, of sales: 36 percent of Acushnet’s net sales come from Titleist golf balls, 26 percent is from Titleist clubs and 28 percent is from FootJoy apparel and shoes.
As anyone who has ever played competitive golf will tell you, Acushnet spends generously on ball seeding, distribution and sponsorship. The IPO form says the company shells out $200 million annually in advertising and promotional expenses, including their relationships with staffers. They spend money to keep making it.
This document had to be filed to keep Acushnet moving toward a release of common stock from its owners, which include Korean firms Fila Korea and Mirae Asset.
THAT WAS FUN, RIGHT?!
Get more from GNN in your inbox, including great deals and contests!
If your email address disappears, it worked! We'll never sell your info.