Acushnet Compnay, the parent company of Titleist, FootJoy, and Cobra has announced that it has reached an agreement to sell its Cobra brand to Puma. The deal includes the Cobra Brand, related inventory, intellectual property and endorsement contracts. Acushnet will keep control of the Titleist and FootJoy and will continue to provide services for Cobra for a period of time to make the transaction seamless.
“With the sale of Cobra, we have the opportunity to devote all of our resources to the global growth of our industry-leading Titleist and FootJoy brands,” said Wally Uihlein, Chairman and CEO of Acushnet Company.
“At the same time, Cobra is a strong brand with a heritage of innovation, and we wish the quality associates guiding the brand future success. Golfers and our valued partners will remain the key focus throughout the impending sale and we are confident that our customers will continue to be serviced to our high standards.”
The sale could be completed as early as second quarter 2010.
Comments
Leave a comment Trackback