Date
22 January 2017
Acushnet, which makes Titleist golf clubs, is reportedly seeking a public listing in the United States. Photo: Bloomberg
Acushnet, which makes Titleist golf clubs, is reportedly seeking a public listing in the United States. Photo: Bloomberg

Titleist golf equipment maker swinging for an IPO

Acushnet Co., the maker of Titleist golf equipment, is talking to banks about a possible initial public offering in the United States, Bloomberg reported, citing unnamed sources.

The company is soliciting pitches from several banks for the IPO, which could take place next year.

Acushnet could fetch a valuation of about US$2 billion, the report said.

Golf equipment is a US$8.7 billion industry globally, with the US making up 41 percent of the market, the World Golf Report 2015 said. Japan and South Korea are runners-up.

In the US, participation has declined every year from 2003 to 2014, National Golf Foundation figures show.

Existing players are getting older, while 20- and 30-year-olds aren’t as attracted to the sport — resulting in declining sales.

Adidas AG chief executive Herbert Hainer said last month the company will seek buyers for some or all of its TaylorMade golf brand business, which posted a sales drop of 32 percent between 2012 and 2014.

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