News & Resources

High business valuation for golf brand in recent sale

Jun 02, 2011 Karen Umpierre

Among the most popular sports for businesspeople all over the world is golf. The leisurely activity gives executives the chance to both relax and discuss important issues to help improve profits and achieve long-term success. With that in mind, a major Korean company announced that it would purchase one of the leading golf brands in the entire world. Fila Korea stated that it would be purchasing Acushnet, owner of Titleist golf, from Fortune Brands in a $1.2 billion deal. Bruce Carbonari, the CEO and chairman of Fortune Brands, which owns Beam liquor, said that the firm was happy with the business valuation. "This transaction is a very important milestone as we execute out proposed plan to separate our three strong businesses for the purpose of maximizing long-term value for our shareholders," said Carbonari. There has been other business valuation news in the high tech sector as of late. LinkedIn recently had its Initial Public Offering on Wall Street which valued the social media firm at $8.9 billion.