Acushnet Company
 | |
| Industry | Golf |
|---|---|
| Founder | Philip E. Young |
| Headquarters | New Bedford, MA, U.S. |
| Products | golf equipment and golfing clothing |
| Owner | Fila Korea, Ltd. |
Number of employees | ~3000 |
| Website | www.acushnet.com |
The Acushnet Company is an American company and a subsidiary of Fila Korea, Ltd. that makes golf equipment and clothing.
Prior to May 2011, it was a subsidiary of the Fortune Brands Corporation. However, Fortune Brands announced on December 8, 2010, that it planned to focus on its liquor business, and would spin off or sell other parts of the company — including home furnishings and hardware, and Acushnet (which includes Titleist, FootJoy, Scotty Cameron, Knight, and other golf product brands).[1][2][3] On May 20, 2011 it was announced that a Korean group associated with Fila Korea, Ltd. and Mirae Asset Private Equity would purchase Acushnet for $1.23 billion in cash.[4][5][6][7]
History
Founded in Acushnet, Massachusetts by Philip E. "Skipper" Young in 1910, the Acushnet Process Company focused on deresinating latex and supplying rubber to industry, and over time began to make their own rubber-based products including water bottles and bathing caps. Eventually, Acushnet Process became a manufacturer of golf equipment, principally, golf balls.
In 1932, the company sectioned into two divisions: Rubber and Golf, both of which became quite successful. The Rubber division was sold in 1985.
In 1935, the Golf division produced the Titleist golf ball, which has consistently been the company's most successful product.
In 1976, the company was purchased by American Brands (now known as Fortune Brands).
In 1985, Fortune sold off the Acushnet Company's Acushnet Rubber division, which was Acushnet's original business (circa early 1900s).
On December 8, 2010, Fortune Brands announced its intent to sell or spin off Acushnet and some other businesses.
Acushnet employs roughly 3000 people in Massachusetts, making it one of the largest employers in the region. It is headquartered in Fairhaven, Massachusetts alongside its Packing and Distribution Center about three miles (five kilometres) south of its original location.
They also have two golf ball manufacturing plants and an R&D Technology Center located in the New Bedford Industrial Park, as well as a Custom Golf Ball plant located in New Bedford.
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Acushnet currently operates several facilities, many of which are in Massachusetts, as follows:
- Ball Plant 2: Acushnet Company, 256 Samuel Barnett Boulevard, North Dartmouth, MA 02747
- Ball Plant 3: Acushnet Company, 215 Duchaine Boulevard, New Bedford, MA 02746
- Ball Plant C: Acushnet Company, 700 Belleville Avenue, New Bedford, MA 02746
- Ball Plant 4: Acushnet Titleist (Thailand) Ltd. Hemaraj Eastern Seaboard Industrial Estate/Free Zone, 500/40 Moo 3 Tambon Tasit, Amphur Pluakdaeng, Rayong 21140
- Distribution: Acushnet Company, 333 Bridge Street, Fairhaven, MA 02719
- R&D Center: Acushnet Company, 181 Samuel Barnett Boulevard, North Dartmouth, MA 02747
Brands
Acushnet Company's primary brands are Titleist, FootJoy, Scotty Cameron, and Pinnacle.
FootJoy
Company Slogan: "The #1 Shoe and Glove in Golf." FootJoy is a golf clothing company based in Massachusetts and founded in 1857. Footjoy was acquired by the Acushnet Company in 1985 from General Mills. Currently, FootJoy is the number one seller of golf shoes and gloves in the United States. A popular shoe series is the Dryjoys which Footjoy claims are extremely waterproof, comfortable and provide the stability a golfer requires to make a good swing. The most recent product is the Reel Fit, a golf shoe that Footjoy claims: "can provide extreme support using an innovative lacing design instead of using traditional laces".
Scotty Cameron
Scotty Cameron is a golf club designer who specializes in high-end putters. Cameron currently resides and has based his company, Scotty Cameron, in California. Cameron made his first putters using his mother-in-law's garage as his factory. After working with several golf companies, Scotty would accept a deal with Titleist. Later, Cameron created a "Custom Shop" where users and collectors can customize their putter by ordering a custom paint fill, engraving, shaft band and grip along with other options. Players can also bring in their older Scotty Cameron Putter and have them repaired. Cameron's putters, the most storied of which are inspired by Karsten Solheim's (PING) original designs (Anser, Zing, B60) are named after popular California beach towns (Newport Beach, Laguna Beach) and Northern California counties renowned for their golf, wine, and leisure tourism (Sonoma, Napa, Monterey). His original designs, usually mallet putters, are often named using ad hoc wordplay. Cameron is a master of prestige branding, going so far as to trademark (under the Acushnet name) the acronym "G.S.S." or German stainless steel. "G.S.S." is simply 303 stainless imported from Germany and used in Cameron's more exclusive releases. It is molecularly identical to other 303 steels.
Cobra
Cobra Golf is located in Carlsbad, California and was purchased by the Acushnet Company for $700 million in 1996. Cobra golf is best known for their drivers, which they claim have been "scientifically engineered for insanely long straight drives". Cobra golf sponsors players who are known for their distance off the tee. Some of these players include Alexis Thompson, Rickie Fowler and Jonas Blixt. Cobra was acquired by Puma AG in March 2010.[8] On the 10th of March 2010, Puma SE acquired Cobra as well as its related inventory, intellectual property and endorsement contracts.
Pinnacle
Company Slogan: "Distance Doesn't Have To Be Hard." Pinnacle is a golf equipment company located in Massachusetts that produces golf balls. These balls are marketed on their low price and the company's claim that it gives the player more distance. These golf balls include: Platinum Feel, Platinum Distance, Gold FX Soft, Gold FX Long and the Ribbon. Adding to their reputation as a distance driven ball Pinnacle sponsors a long drive team.
References
- ↑ Aaron Smith, Jim Beam, neat, is company's new strategy, CNN Money, December 8, 2010.
- ↑ Fortune Brands Announces Intent to Separate Company's Three Businesses, The Wall Street Journal, December 8, 2010.
- ↑ Fortune Brands to split into three companies, Lake Country News-Sun, December 9, 2010.
- ↑ Fortune Brands to Sell Titleist Golf Unit to Fila Korea for $1.23 Billion, Cotten Timberlake and Lauren Coleman-Lochner, Bloomberg, May 20, 2011.
- ↑ Acushnet to be sold to Korean group led by Fila, Gene Yasuda, Golf Week, May 20, 2011.
- ↑ Fila set to buy Fortune Brands' golf unit for $1.2B, Dow Jones Newswire, May 20, 2011.
- ↑ Fila takes swing at golf biz with Titleist buy, CBS News, May 20, 2011.
- ↑ "Puma to aquire [sic] Cobra Golf". Golf Channel. March 10, 2010. Retrieved 2010-06-28.