이 기사는 2021년 11월 10일 08:09 thebell 에 표출된 기사입니다.

US-based golf gear maker TaylorMade Golf has acquired Nassau Golf in a move to expand its golf ball operations.

The deal, which was announced a week ago without financial details, was the company’s first acquisition after the golf equipment maker was acquired by Seoul-based private equity firm Centroid Investment Partners in August this year.

Founded in 1969, Nassau Golf has grown with its original equipment manufacturing business. Its relationship with TaylorMade began in 2005, with the companies working together to launch the world's first five-piece golf ball in the form of the Penta TP in 2010. Discount retailer Costco’s Kirkland Signature golf balls are also made by Nassau Golf.

TaylorMade entered into discussions to acquire Nassau Golf even before it was bought by Centroid Investment. Nassau Golf recorded a 2.2 billion won ($1.9 million) operating profit on revenue of 33.8 billion won in 2020. Its name will be changed to TM Golf Ball Korea.

The acquisition is expected to help TaylorMade expand its presence in the golf ball market. Globally, TaylorMade holds the largest market share of 24% in the golf equipment market, followed by Callaway (23%) and Titleist (14%). In contrast, its share in the golf ball market only stands at 11%, with the market dominated by Titleist with a 46% share.

“This acquisition further supports TM’s strategic plan to create vertical integration in the company’s golf ball supply chain,” David Abeles, TaylorMade Golf’s chief executive, said.

With Nassau Golf’s plant in Cheongju, North Chungcheong Province, TaylorMade now has golf ball manufacturing facilities in three locations globally, alongside those in Carolina in the US and Taiwan. (Reporting by Se-hun Jo)