Acushnet announces sale of Cobra Golf to Puma

The Acushnet Company, manufacturers of Titleist and Footjoy, has announced the sale of the Cobra Golf brand to German sports company PUMA AG.

Cobra, probably best known for its rescue club the Baffler and its array of drivers, is hugely popular with golfers throughout the UK as well as being represented on tour by Ian Poulter and Camilo Villegas.

The deal will see Puma assume ownership of Cobra’s inventory and intellectual property as well as take on existing endorsement contracts with Poulter and Villegas.

However, according to management at Fortune Brands, owners of Acushnet, the company plans to continue to provide services such as production, distribution, field sales and customer service to ensure a seamless transition.

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.

Wally Uihlein, chairman and CEO of Acushnet, said: “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.

“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.”