In a media release, Fortune Brands said it plans to become "an independent, publicly-traded company focused solely on its distilled spirits business." The release went on to say that the company plans to sell or spin off the Acushnet Co., it's golf business, which makes Titleist balls, clubs and accessories, as well as Movado Watches and power balance.
The CNNMoney video below explains some of the reasons why Fortune has decided to break up.
Golfers learning this news might logically have a few questions, so here are a few answers.
Yes, it's going to be business as usual at Titleist and FootJoy until the completion of a deal is finalized. In its release, Fortune Brands said its board of directors "has directed management to develop detailed separation plans for consideration and final approval by the Board. The company expects to complete development of these plans — including the structure, timing, and other related matters for each business — within the next several months."
In other words, nothing is going to change in the immediate future.
Titleist recently released its 910 line of woods and gave prototype Pro V1 and Pro V1x golf balls to its staff professionals to play. An updated Pro V1 and Pro V1x are expected to be released in early 2011.
If Acushnet gets sold, who would buy it?
Fortune Brands' release states that Acushnet has annual sales of $1.2 billion, so anyone looking to buy the company needs to have deep pockets.
One possible buyer could be a private equity firm. Another could be a large company already in the golf business. However, if a company like Callaway, Nike, Adidas or Bridgestone wanted to buy Acushnet, it could present anti-trust and intellectual property issues.
Source from: http://www.brand-watch-supplier.com/
没有评论:
发表评论