And the Cobra Golf brand. But not for long. Acushnet has agreed to sell Cobra to Puma, whose golf business has heretofore been limited to accessories such as shoes and apparel.
"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," Wally Uihlein, Chairman and CEO of Acushnet Company, says in the company news release announcing the sale.
Assuming regulatory approval, Puma acquires the Cobra brand, along with inventory, intellectual property and endorsement contracts. Camilo Villegas, Ian Poulter and J.B. Holmes are among the tour pros playing Cobra equipment.
Acushnet will continue to provide production and distribution of Cobra Golf equipment, along with customer service, for the time being, in agreement with Puma, until Puma is ready to assume those services itself. That servicing agreement extends beyond the closing of the sale, but the period of time is unspecified in the announcements today by Acushnet and Puma.
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