Equipment
Report: Fila to spin off Titleist, Footjoy?
The Acushnet Company, which owns Titleist and Footjoy, is in talks with U.S.-based advisory firm Solebury Capital about a possible initial public offering (IPO), according to a report from Reuters.
Acushnet was acquired by Fila Korea and its South Korean partners including Mirae Asset Private Equity in 2011 for $1.23 billion. It was previously owned by Fortune Brands.
Since 2011, Acushnet’s earnings have increased from $120 million to an estimated $185 million in 2014.
The Korea Economic Daily reported that Acushnet was expected to complete listing by 2016, most likely in New York.
Under the terms of the 2011 acquisition, Fila’s stake in Acushnet will increase from 12 percent to 33 percent with the IPO, which will also clear any liabilities incurred in the original purchase.
Tour Edge Golf has today introduced the all-new Exotics mini driver, engineered to deliver a powerful combination of speed, control, and versatility in the long game.
The Exotics Mini combines a titanium face with a stainless-steel body in design to balance ball speed with stability and control, creating a versatile option at the top end of the bag.
At the core of the design is Tour Edge’s proprietary Combo Brazing technology, a high-precision thermal bonding process that seamlessly fuses a titanium cup face to a stainless-steel body into a single, continuous structure. By eliminating energy loss found in traditional multi-piece constructions, Combo Brazing is designed to deliver faster face response, more efficient energy transfer, and a uniquely powerful yet controlled feel.
The multi-material construction also allows mass to be positioned lower and deeper in the head in a bid to increase stability, while the thin titanium face is engineered to maintain ball speed across a wider impact area.
“While the initial goal was to enhance control and versatility in the long game, Combo Brazing ultimately drove measurable gains in ball speed and distance within the mini driver category. In robot testing, we’ve documented higher ball speeds, higher launch, reduced spin, and increased carry and total distance compared to leading models.” – Vice President of R&D Matt Neeley
In addition to distance performance, the Exotics mini emphasizes forgiveness through a heavier stainless-steel body that shifts mass toward the perimeter. This configuration increases MOI relative to traditional all-titanium mini drivers, helping preserve ball speed and directional stability on off-center strikes. Paired with Pyramid Face Technology from the Exotics metalwood line, the design is intended to support consistent speed across the face.
To further enhance MOI, a lightweight carbon fiber crown frees additional mass that is strategically repositioned low and deep in the head in design to improve stability and promote optimal launch with controlled spin.
“We designed the Mini to be about five millimeters shallower than other mini drivers on the market. That change improves playability off the deck. From a clean fairway lie, it can function as a strong 3-wood alternative while still providing control off the tee.” – Tour Edge CEO David Glod
An adjustable hosel system allows for loft and lie tuning to dial in trajectory and shot shape, while a fixed 13-gram rear weight helps stabilize the head through impact to improve dispersion consistency. The Exotics Mini Driver is available in 11.5 and 13.5-degree lofts in right-handed models.
Pricing & Availability
The Exotics Mini Driver is available for pre-order beginning today for $399.99 USD at touredge.com, and will be available for purchase at retail outlets worldwide on May 22, 2026.
In our forums, our members have been pitting a Srixon ZXi combo against a TaylorMade P7CB/770 combo. WRXer ‘edutch22’ is on the hunt for a new set of irons and kicks off the thread saying:
“Looking at picking up a new set of irons and think I’ve narrowed it down to Srixon ZXi combo or Taylormade P7CB/770 combo. I am currently a 5 cap and allbeit I feel irons are my weakness. My miss is a little to the toe side. I am decently steep at 4-5 down. Always thought I am high spin but recently on trackman my 7 was spinning at 5800 roughly.
My question or looking for thoughts on which one would benefit me more from a forgiveness standpoint? Or is there another iron is should be looking at entirely? I only get to play about once or twice a week, if I am not playing a 2-3 day event. Thanks in advance.”
And our members have been sharing their thoughts and suggestions in response.
Here are a few posts from the thread, but make sure to check out the entire discussion and have your say at the link below.
- manima1: “You just can’t go wrong with Srixon ZXi7.”
- MattM97: “You have to hit them to know, the V-Sole on the Srixon can be make or break for many.”
- dmeeksDC: “P7CB is more forgiving for me than ZXi7 because my main miss is low middle and the P7CB still flies and spins great on that miss. These are both really nice irons but I like the P7CB more than the Zxi7 and the P770 (or P790) more than the Zxi5. The Srixons are larger so if that gives you confidence that is the way to go. I don’t feel like I get any benefit from the V-sole and the P7CBs live up to their high Maltby forgiveness rating so the TaylorMades have been great for me.”
Entire Thread: “Srixon ZXi combo or TaylorMade P7CB/770 combo? – GolfWRXers discuss”
At GolfWRX, we are a community of like-minded individuals who all experience and express our enjoyment of the game in many ways.
It’s that sense of community that drives day-to-day interactions in the forums on topics that range from best driver to what marker you use to mark your ball. It even allows us to share another thing we all love – buying and selling equipment.
Currently, in our GolfWRX buy/sell/trade (BST) forum, @pianoman0123 has a 2024 Wilson Staff CB/Blade combo up for grabs.
From the listing: “2024 Wilson Staff CB/Blade Combo. 4-8 irons are CB’s and the 9,PW are Blades. 5-PW have Project X 6.0 Shafts and the 4 Iron has a Steelfiber CW110 Stiff Shaft. Standard Length, Lie and Lofts. These are in very good condition the shafts just don’t work for me. Like new Lamkin Grips on the 5-PW and a stock Golf Pride on the 4 Iron. $525 OBO.”
To check out the full listing in our BST forum, head through the link. If you are curious about the rules to participate in the BST Forum, you can learn more here: GolfWRX BST Rules
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Mike Rafone
Jan 10, 2015 at 6:21 pm
Titleist, in parts, is worth WAAAAY more than the sum as a public company. Watch the hard money investors rev up the price tag by talking IPO when the truth is by selling the ball, putter, club and shoe business separately will ultimately bring the institutional investors their sought-after ROI. Bang!
annsguy
Jan 8, 2015 at 2:49 pm
When the dust settles it will be Bridgestone, Ping and Wilson. These companies are focused or re-focused on the golfers who actually drive the cash register. All in for the long haul.
Turd Ferguson
Jan 8, 2015 at 6:32 pm
Nike, already got the channels so why not?
Matthew Carter
Jan 8, 2015 at 12:09 am
Mizuno baby!
WarrenPeace
Jan 7, 2015 at 3:16 pm
Bad move-Its like the Hogan irons or Powerbuilt woods of old. They just got made cheaper and are now considered cheap crap where before they were real players clubs. The same will now happen to Titleist and it’s sad- I hope they don’t mess up the ball along with the clubs?? I do love my AP2 irons and 913 woods. I can’t say the same for the 915’s at this time…..I still hit my 913’s longer and they sound better. Trackman is great but the only true numbers are the ones on the course in play.
Ct
Jan 7, 2015 at 8:42 pm
Titleist, this is what you do… Make the pro v1 and x 332 dimples so they side spin a little less that’s were the money is for you. Drop everything else! Drivers, woods, hybrids, irons and bags suck. Vokey and Cameron spin off and do their own thing, they’re good enough to survive on they’re own. The fj’s horrible, out of date and ugly as usual!
Wayz2go
Jan 7, 2015 at 3:02 pm
Agree with these posts. I tested the 915 Driver on Trackman and its performance was so minimal over my 913 driver….. why spend $400.00? Looking forward to testing the Nike drivers.
Golfraven
Jan 7, 2015 at 2:54 pm
IPO is a bad idea.
JEFF
Jan 7, 2015 at 1:10 pm
I have a few pair of fila golf shorts. They arena expensive and the best shorts I have ever purchased… 22.00 at Kohls… and who cares!
Duffer Pauly
Jan 7, 2015 at 12:00 pm
Who cares? Just keep hacking away with Top Flites!
Tin Whistle
Jan 7, 2015 at 11:27 am
I read the release as the ‘hard money’ investors will exit (no surprise there) and Fila intended to up its stake…
T-MAC
Jan 7, 2015 at 11:24 am
Be interesting to see what this may do (if anything) to the Scotty Cameron brand.
NYer
Jan 7, 2015 at 8:55 pm
It’ll make everyone who buys one an exceptional putter! Just like they do now.
^sarcasm^
Prime21
Jan 7, 2015 at 10:59 am
Bradford hit the nail squarely on the head. By industry standards (1 year), Titleist has a long product cycle (2 years). With that additional year of research one would expect some type of game changing technology, which we haven’t seen from Titleist in quite some time. The original SureFit tech in the 910 driver as well as the tech in the original AP iron series has remained static. Throw in a speed chamber & you have the 915. Talk about more forgiveness and change the color of the badge and you have the 912 series. While I believe that their equipment looks good and performs well, I don’t see the same gains in technological advancement compared to the likes of T/M, Callaway, or Nike. I don’t think it’s a stretch to say that Titleist has borrowed the other companies ideas more than it has created it’s own.
In the end, a spinoff could spell big trouble for a brand that has relied heavily upon golf ball sales and brand loyalty to keep them afloat. I can’t quote percentages, but I would guess that their hardgood market share has consistently dropped over the last 4-5 years.
In the end, if they don’t get things fixed, they could be stuck making FootJoy Classics, while the rest of the industry is already selling athletic footwear for golf.
Golfraven
Jan 7, 2015 at 2:47 pm
Would still love to buy a pair of Classics though. Have the Icons and bought 2 pairs of spikekess golf shoes from FJ in the last two years. IMO Titleist and FJ still go with time. Better timeless design in clubs and cloths then the hip stuff you get from Nike, Adidas, Puma, Oakley and Co.
Residente
Jan 7, 2015 at 6:55 am
And the last man standing is Ping!
Joseph Dreitler
Jan 7, 2015 at 12:26 pm
You took the words right out of my mouth. The only 2 major companies left standing that haven’t been peddled are Ping (assume still family controlled) and Nike (not family controlled but not in debt so that it has to cheapen the product, R&D, customer service and quality control.
Lancebp
Jan 7, 2015 at 3:37 pm
Ping is indeed 100% family owned. I have a friend who’s worked there 40+ years and is one of the higher-level executives, but he’s not a Solheim and will never have one share.
Terry Headley
Jan 7, 2015 at 8:32 pm
What about Mizuno? They are still family owned and a manufacturing company not a Marketing company.
Joseph Dreitler
Jan 6, 2015 at 9:54 pm
Fila acquires Acushnet and intends to spin off Titleist? I’ve only been a lawyer for 36 years, but Fortune Brands could have done that to escape the greed of Pershing Capital. Can someone give me a single example of a company that spun off assets to avoid the clutches of a speculator demanding immediate returns. In all instances the results are the same. The buyer has borrowed money to buy it, they need to pay off the money they borrowed so they cut R&D, marketing, fire employees, move everything to China, use cheaper ingredients/components. The market share goes down but the savings pump up earnings – for awhile. It’s a simple formula used by all buyers of companies spun off in this way. Would love to be wrong, but keep your eye on the quality and new products from Titleist over next 3 years.
bradford
Jan 7, 2015 at 7:39 am
Titleist “aficionados” will never admit the quality has dropped, although R&D from acushnet has already stopped. Choose three successful technologies from other companies and cramming them into your new product just shows a lack of initiative.
I hate to see the ball go though.
A
Jan 7, 2015 at 8:55 am
I’m not financial wiz but I am a Titleist aficionado and I’d REALLY hate to see it slip. Maybe it already has? I do not like the new 915 woods at all.
Jimmy O
Jan 6, 2015 at 5:59 pm
This will be interesting to follow. At least Taylor Made and Cobra have the corporate umbrella of Adidas and Puma, respectively.
c masty
Jan 6, 2015 at 4:01 pm
The public market will hate this stock. The only way they will be able to grow is through acquisition (debt). Their earnings and margins for the forseeable future will be flat to declining on a product line basis and R&D budgets will be scrutinized to the point of non-existence. I guess if they want to be a big boy, they can try the Brunswick model and rinse/repeat that whole scenario. I would rather see them privately owned or owned by a PE firm before on the public market. I love Titleist but I don’t see this as good for the brand. Hope I’m wrong.
David
Jan 6, 2015 at 5:07 pm
Like the idea of a PE firm too. I’d hate to see the quality products that come out of Titleist be turned into mass merchandise just to generate more sales.
Cwolf
Jan 6, 2015 at 6:58 pm
Could not agree with you more. They will not be able to organically grow at a rate to please Wall Street. This is a horrible idea for Fila and the Titleist brand. I hope that Fila has started this rumor to solicit a buyer rather that really spin Titlesit off….a spin off is just a horrible, awful, terrible idea.
cmasty
Jan 6, 2015 at 9:10 pm
Maybe its an Asian move? Being fila/korean, they are probably better positioned than most golf companies to take advantage of the Asian market (I think this is the only growing golf market, globally).
Tom Bowles
Jan 6, 2015 at 3:30 pm
Increase the value even more, then sell it off.
1883atlantics
Jan 6, 2015 at 3:15 pm
slippery slope. it leads to the shareholders’ profit being the primary motivating factor and as such could very well dilute the conservative reputation Titleist and FJ currently hold. The demand for more and more profit could lead to increased product release cycles, in light of the success that TMAG and Callaway had/have.
golfing badger
Jan 6, 2015 at 2:18 pm
juggernaut…a legit move
Milton
Jan 6, 2015 at 2:01 pm
crazy