Thought you all might be interested in this announcement....
ACUSHNET COMPANY ANNOUNCES AGREEMENT TO SELL COBRA GOLF TO PUMAFairhaven, MA (March 10, 2010) - Acushnet Company, the golf business of Fortune Brands, Inc. (NYSE: FO), announced today that it has signed an agreement for the sale of Cobra Golf to PUMA AG. The sale includes the Cobra brand, as well as related inventory, intellectual property and endorsement contracts, and is subject to customary closing conditions and regulatory approvals.Acushnet also announced plans to continue to provide services for an agreed upon period of time beyond the closing of the sale to facilitate a seamless transition. Services such as production, distribution, field sales and customer service will ensure that Acushnet Company’s Cobra trade accounts and golfers continue to receive industry-leading service during this transition period.“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.”Pending regulatory approval, the effective date of the sale of Cobra Golf to PUMA is expected to be early in the second quarter, and all business will continue to be conducted by Acushnet Company until that time. All Acushnet Company associates dedicated to the Cobra business are expected to become employees of PUMA. Financial terms of the pending transaction were not disclosed.“Titleist and FootJoy are powerful golf brands that are poised for long-term growth,” continued Uihlein. “This laser focus and our longstanding commitment to deliver superior performance and quality will strengthen golfers’ trust in the Titleist and FootJoy brands in all global markets.”
WOW, thats a shame. I hope they can keep up the Cobra quality.
yeah, i saw that reported but didn't have a chance to post. that's good news for everyone i guess. what will happen with respect to foot ware for camilo, ian et.al.? will they continue to wear fjs or will they switch to puma? puma is now becoming a pretty strong golf brand. they will most likely be able to keep up the quality outiger, reportedly the cobra people will now be working for puma. shares of fo are up approx .09 cents on the day.
I guess that takes care of our thoughts of Cobra being the entry level Titleist. That is a shame. I wonder now if all of the equipment is going to be focused on the 10 and under handicap or if they will have to broaden the range with the loss of the Cobra income.
So, does this mean that COBRA could be rebadged as PUMA throughout the product line. Or does anyone think that PUMA will make a product to rival itself or even make an entry level line of products with the PUMA name and logo to widen there market share.
THat is a shame. Its business I guess. Hopefully Puma can keep the quality of the brand so they dont lose Camillo and Poulter.
Caddy13
That is too bad, I didn't even hear any rumors that they were in play. Hopefully their current standards of quality and innovation will be continued.
Wow Chris, this is big news.
I'm thinking in the future it could make for some interesting things for Titleist to consider. For example, Ricky Fowler has a PUMA apparel/shoe contract and one with Titleist for clubs/balls/ bag. Both firms are pretty invested in this, but will the "new" Cobra make a new deal, and will Titleist care. Then there is the Camillo, IJP, and JB Holmes deals. How will that play out? It certainly shakes up the contracts that will surely get negotiated anew in the future.....
Thanks for the heads up on this.
I wonder what sort of contract Camilo and Poulter have wearing FJ. I hope Puma doesn't try to make them wear Pumas. That would be a horrible thing to happen.
My eyes still hurt from seeing Geoff Ogilvy wear these at the Masters a few years back!
Actually i think this is a pretty good idea. I think that Cobra is a brand that has enough reconition in the market that it could last on its own, and that it can improve by someone take all of there time and technology towards one product. And at Acushnet they have to put technology towards Titleist and Cobra. So i think if Puma can put all of their efforts into and keep up the Quality that the brand has now, and make it alittle bit better, its a win win
WHEN I POSTED--"IS THERE A COBRA LURKING?" I HAD NO CLUE.
I HAVE COBRA EVERYTHING,IRONS,WOODS,BAG,UMBRELLA,HATS.SHIRTS,TOWELS,EVERYTHING EXCEPT,BALL,GLOVE AND SHOES WHICH ARE ALL ACUSHNET.
I BOUGHT THEM ALL BECAUSE OF ACUSHNET QUALITY (MOST ALL ARE 2010).
I GUESS I'VE GOT THE LAST OF THE BREED.
WELL, IF IT MAKES ACUSHNET BETTER,THEN GOOD LUCK
I FEEL LIKE I JUST GOT KICKED OFF OF THE TEAM.
puma? really?
Does anyone think that Acushnet will renegotiate the deals with there players before the sale is final.
So they can keep the "team" together.
this seems so weird to me, cobra has been doing so well the past few years. i know several years ago, cobra was known as a game improvement club. now they've got some good clubs for great players. i really like cobra now, this just surprises me.
Chris... what does this mean for Cobra staffers like JB, IJP and Camilo?