Sale of TaylorMade Golf by its private equity owner may begin soon according to reports
Is TaylorMade Golf about to hit the block?
Talk that the Carlsbad, Calif.-based equipment maker could be sold has accelerated, according to a report on May 9 in the Chosun Daily, a Korean publication.
Earlier this year, Centroid Investment Partners, a South Korean private equity firm that purchased TaylorMade Golf in 2021, was reported to be considering selling the equipment maker. The latest report claims that TaylorMade may begin the sale of its management rights, 'as early as next month, with the company aiming for a valuation of around $3.5 billion.'
The $3.5 billion targeted sales price is believed to be based on a valuation benchmarked against Acushnet Holdings, the parent of Titleist.
According to investment banking sources, sale advisors JP Morgan and Jefferies plan to send teaser letters to potential buyers in June or July. Strategic investors from China and the Middle East are expected to be key targets.
There's one potential holdup: F&F, the South Korean fashion group that joined as a strategic investor at the time of Centroid's 2021 acquisition of TaylorMade, reportedly opposes the sale. 'Through legal counsel Yulchon LLC, F&F has submitted formal notices stating it will exercise its right to approve major corporate decisions should the deal proceed,' the Chosun Daily reported.
F&F also argues that the scope of its right of first refusal remains ambiguous. The company holds both the right to approve key decisions and the right of first refusal on TaylorMade, and has consistently opposed a sale—pushing instead for continued growth and a future IPO.
Centroid maintains that the planned sale does not fall under F&F's approval rights and charges that the terms of the right of first refusal are clearly defined. If a third-party buyer presents an offer, F&F would have 14 days to match or exceed that price to take control. F&F invested $392 million into the fund when TaylorMade was valued at just $1.5 billion.
In January, Jeong Jin-hyeok, the CEO of Centroid Investment, told Nikkei Asia that he is, 'satisfied with TaylorMade's golf ball business as it has grown more than 20 percent on average per year since Centroid's acquisition in 2021, while noting that he will be monitoring how its clothing operations perform through 2025.'
That would be a reference to the apparel business, which the company backed last year, with Tiger Woods and known as Sun Day Red.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
5 hours ago
- Time Business News
Leading Korea's Payment Revolution: How Mobile Micropayments Are Shaping New Consumer Habits
South Korea, renowned for its advanced digital infrastructure and mobile-first society, is once again leading a quiet revolution—this time in how people pay. Mobile micropayments are transforming daily transactions, shifting not only spending behaviors but also the entire cultural approach to money. What once required cards or bank transfers is now done in seconds through a smartphone, often for just a few cents. At the heart of this transition is an intuitive and rapidly growing platform: pin-toss. Micropayments aren't just about convenience; they represent a broader evolution in how consumers interact with technology, brands, and each other. As more Koreans embrace cashless living, small digital payments are becoming powerful tools of influence, connection, and efficiency. Micropayments refer to digital transactions involving very small sums, often ranging from a few cents to a few dollars. These are commonly used for things like buying digital stickers, tipping delivery workers, accessing exclusive content, or splitting lunch bills. In Korea, where over 90% of the population owns a smartphone and mobile internet is blazing fast, these tiny payments are as common as breathing. Micropayments are frictionless. They don't require PINs, physical cards, or lengthy checkout processes. A few taps and you're done. That ease of use is what makes them so sticky in a fast-paced society like Korea's, where consumers demand speed and precision. Korea's dominance in mobile micropayments is no accident. The country has long invested in technology, connectivity, and mobile usability. High-speed networks, tech-savvy users, and a culture of innovation create the ideal environment for this trend to thrive. But there's more. Korean society places a strong emphasis on shared experiences and reciprocity. It's common to split costs for meals, drinks, or entertainment. Mobile micropayment platforms make this incredibly easy. Instead of cash exchanges or awkward IOUs, a user can send 1,000 won instantly using a sleek app like pin-toss. Government policies have also contributed. Regulatory encouragement for fintech development has helped new players challenge traditional banking with smarter, more agile services. The result is a competitive landscape filled with intuitive apps that prioritize user experience. Among the rising fintech innovators in Korea, pin-toss is one platform leading the charge. Designed with simplicity and social interaction in mind, it allows users to send and receive small amounts instantly. The app is particularly popular with students, freelancers, and young professionals who rely on frequent, low-value transactions. What makes pin-toss stand out is its clear interface, lightning-fast transfers, and strong user trust. Unlike bulky banking apps, pin-toss feels lightweight and responsive. Every feature is built around real-world needs—splitting bills, sharing gifts, topping up credits, or paying for small services. It's not just a payment tool. Pin-toss is part of a lifestyle shift toward smarter financial interactions. It reflects how younger Koreans view money: as something fluid, shareable, and mobile. Traditional finance taught consumers to plan big purchases, save up, and spend deliberately. Micropayments are rewriting that rulebook. They introduce spontaneity into everyday transactions. Buying a digital comic, donating to a cause, or sending a friend a coffee voucher—all these happen in the moment, driven by convenience and emotion. This ease fosters more frequent engagement. Instead of one big transaction a week, users might make 10 tiny ones each day. Over time, these small habits change how people think about value. They become more likely to support creators, subscribe to services, or reward good service—because the perceived 'cost' feels low, even if the aggregate is meaningful. In this context, platforms like pin-toss enable a micro-lifestyle, where even the smallest exchange carries social and emotional value. Micropayments are not just economic tools—they are social expressions. Sending someone 500 won for a cute sticker, or pitching in for a digital birthday card, adds a new dimension to digital interaction. These aren't just transactions; they are gestures. This has powerful implications for how brands engage with consumers. Loyalty programs, digital gifting, exclusive access—all can now be built around micro-commitments. Consumers prefer small, low-risk actions that lead to rewards, and businesses are adapting fast. Pin-toss, for example, is often used to distribute promo credits, limited-time offers, or small rewards for referrals. It's a gateway to higher customer engagement and longer-term loyalty. With the rise in transaction volume comes the need for robust security. The very nature of micropayments—frequent, low-value, often peer-to-peer—makes them vulnerable if not designed securely. Platforms like pin-toss prioritize safety without sacrificing user experience. Features like instant transaction alerts, biometric logins, and refund options build user confidence. Unlike traditional banks, which often bury such features in layers of menus, apps like pin-toss bring transparency to the forefront. That transparency is crucial. Users need to feel in control, especially when they're making daily decisions involving their money. Clear receipts, easy tracking, and the ability to freeze or review transactions all contribute to peace of mind. One of the underrated benefits of micropayment platforms is their ability to include people who are traditionally left out of financial systems. Students, part-time workers, freelancers, and even older adults with limited tech access can participate more fully in the economy through simplified apps. Pin-toss has been instrumental in this regard. Its minimal sign-up requirements, intuitive interface, and instant usability mean that anyone with a smartphone can send and receive money without needing a bank account. This opens doors to economic activity that was previously informal or invisible. Even in emergencies or remote regions, micropayments can serve as lifelines. Quick donations, aid distribution, or peer support becomes much more practical when platforms like pin-toss enable instant, traceable transfers. For small business owners and digital creators, micropayments present a powerful revenue model. Instead of relying on big purchases or subscriptions, they can monetize their content, services, or expertise one small transaction at a time. Whether it's charging a few cents for exclusive content, receiving tips for live streams, or accepting micro-donations for community work, the possibilities are endless. Platforms like pin-toss support this ecosystem by making every transaction smooth and trackable. Businesses can also use micropayments to build customer relationships. Offering a 500-won discount, micro-rewards for repeat visits, or time-limited coupons can drive frequent engagement and create brand stickiness without massive ad spends. The rise of micropayments signals a broader transformation in the way people experience commerce. It's not just about money anymore—it's about connection, participation, and ease. Consumers want fast, personalized, and invisible transactions. They don't want to fill out long forms, wait for confirmation codes, or deal with banking hours. Platforms like pin-toss are meeting those expectations by turning payments into a background process—one that quietly supports and enhances digital living. As Korea continues to set global trends in fintech, the world will likely watch and follow. The combination of cultural readiness, technological infrastructure, and platforms like pin-toss is making micropayments the new normal. Mobile micropayments in Korea are more than a tech trend—they are a cultural shift. They reflect a world where small moments matter, where money moves quickly and meaningfully, and where technology adapts to people—not the other way around. Pin-toss represents this evolution. It's not just changing how Koreans pay; it's changing how they live, connect, and build value in daily life. As more consumers adopt this micro-mindset, businesses, creators, and communities have a chance to thrive in an economy built not on size, but on frequency, trust, and simplicity. TIME BUSINESS NEWS
Business Insider
a day ago
- Business Insider
RTX awarded $115.08M Navy contract modification
RTX (RTX) was awarded a $115.08M contract modification to the previously awarded firm-fixed-price, cost-plus-incentive-fee and fixed-price incentive Lot 19 contract. This modification adds scope to procure long-lead time materials for the future production and delivery of F135 propulsion systems for the F-35 in support of the Joint Strike Fighter program for the Air Force, Marine Corps, Navy, F-35 Cooperative Program Partners, and Foreign Military Sales (FMS) customers. Work is expected to be completed in February 2028. The Naval Air Systems Command is the contracting activity. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Business Upturn
a day ago
- Business Upturn
Credicorp Ltd.: Credicorp's Earnings Release and Conference Call 2Q25
By GlobeNewswire Published on August 2, 2025, 01:15 IST Lima, Aug. 01, 2025 (GLOBE NEWSWIRE) — Lima, PERU, August 1st, 2025 – Credicorp Ltd. announces to its shareholders and the market that its 2Q25 Earnings Release Report will be released on Thursday, August 14th, 2025, after market close. Credicorp's Webcast / Conference Call to discuss such results will be held on Friday, August 15th, 2025, at 10:30 a.m. ET (9:30 a.m. Lima, Peru time). The call will be hosted by: Gianfranco Ferrari – Chief Executive Officer, – Alejandro Perez Reyes – Chief Financial Officer, Francesca Raffo – Chief Innovation Officer, Cesar Rios – Chief Risk Officer, Diego Cavero – Head of Universal Banking, Cesar Rivera – Head of Insurance and Pensions, Rocio Benavides – Mibanco CFO and Investor Relations Team. We encourage participants to pre-register for the listen-only webcast presentation using the following link: Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time. Those unable to pre-register may dial in by calling: Participant dial-in (toll-free): 1 844 435 0321 Participant international dial-in: 1 412 317 5615Participant Web Phone: Click Here Conference ID: Credicorp Conference Call The webcast will be archived for one year on our investor relations website at: Credicorp reminds you that we filed our Annual Report on Form 20-F for the fiscal year ended December 31st, 2024 (2024 Form 20-F) with the Securities and Exchange Commission on April 25th, 2025. The 2024 Form 20-F includes audited consolidated financial statements of Credicorp and its subsidiaries as of December 31st, 2022, 2023 and 2024 under IFRS. Our 2024 Form 20- F can be downloaded from Credicorp's website : Holders of Credicorp's securities and any other interested parties may request a hard copy of our 2024 Form 20-F, free of charge, by filling out the form located on the link 'mail request' on Credicorp's website. About Credicorp Credicorp (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia, and Panama. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Crédito del Peru ('BCP') and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp. Credicorp has a presence in Peru, Chile, Colombia, Bolivia, and Panama. For further information, please contact the IR team: [email protected] Investor Relations Credicorp Ltd. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
