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A record 3 million people tried golf for the first time in 2020, and the game shows no signs of slowing down.
Leisure-related takeovers, including golfing and boating, have already topped $11 billion this year, the highest such figure since 2006.
Roughly 500 million rounds of golf were played last year, with overall play in the U.S. increasing 14% year-over-year.
In recent months, golf’s largest mergers and acquisitions ever have taken place.
- In March, Callaway merged with Topgolf. Callaway already owned a 14% stake in Topgolf and will pay $2.66 billion to acquire the rest of the company.
- Platinum Equity, run by Detroit Pistons owner Tom Gores, announced in April its plan to acquire Ingersoll Rand’s golf cart business for $1.7 billion.
- Private equity firm Centroid Investment Partners acquired TaylorMade Golf in May for $1.7 billion, the largest acquisition ever in the golf goods industry.
- In July, private equity firm Bruin Capital purchased a controlling stake in swing simulator company Full Swing for $160 million.
However, supply chain issues caused by the pandemic are starting to affect the industry.
American Golf locations in the United Kingdom have told clients that their custom-fit clubs won’t arrive until December.
Acushnet, Titleist’s parent company, now turns customer orders around in an average of seven weeks, compared to the two business days it took prior to shortages.
