Fortune Brands has sold its golf business – including the Titleist and Footjoy brands – to Fila Korea for $1.2 billion.Fortune decided to spin off its three core business into independent companies last year. Those were Beam Spirits (Jim Beam, Maker’s Mark), Fortune Home and Security (Moen faucets, MasterLock) and the Acushnet Company, which was the golf properties
Fila is the Italian sportswear maker that is now part of a Korean conglomerate that includes South Korea’s largest government-owned bank.
Net sales for the golf business exceeded $1.2 billion in 2010, with almost half the revenue coming outside the United States.
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