MacGregor Golf Company
Albany, GA

The Company

MacGregor Golf Company is the second oldest golf brand in the world, and one of the most well known with 92% prompted brand recognition worldwide. Indeed, 59 Majors have been won playing with MacGregor equipment, multiples more than the next closest brand. Ben Hogan, Jack Nicklaus, Greg Norman, Jose Maria Olazabal, and Aaron Baddeley have all played and won with MacGregor golf clubs.

The Company changed ownership several times in the ‘80’s and ‘90’s, and those owners pursued a broader channel strategy that included selling large discount retailers in the United States, and to a lesser extent, Europe.

Acquisition

We acquired the Company in August 1998. We were attracted to the management team, the brand, and to the Company’s global operating leverage.

Strategy

Our strategy was to invest in the brand, close discount channels, eliminate commodity products, and develop high quality products that deploy the world’s most advanced technologies to make the game easier for golfers of all skill levels.

Strategic Add-on Acquisitions

We made several strategic acquisitions to build scale efficiencies, diversify brands, and to offer added value to our customers.

• 2003- Acquired MacGregor-Japan (“MGJ”) from Suntory Corp. MGJ is the licensee for the markets of Japan and Korea; prior to the transaction, Suntory owned 75% and MacGregor owned 25% of MGJ.
• 2003- Acquired Bobby Grace Putters from Bobby Grace. Bobby Grace is a renown innovator in the strategically important putter segment. The Bobby Grace brand is a well-known high-end brand to consumers and professional golfers alike.
• 2006- Acquired Greg Norman Collection apparel (“GNC”) from adidas. GNC is an upscale lifestyle apparel brand whose products are sold primarily through better pro shops and specialty retailers. The acquisition provided scale efficiencies, access to a new and larger market segment, and consolidated all Company brands around the iconic persona of Greg Norman.