DLA Piper advised Seoul, South Korea-based private equity firm Centroid Investment Partners on its agreement to acquire the TaylorMade Golf Company Inc. from New York-based KPS Capital Partners LP.
Korean law firm Kim & Chang also advised Centroid, according to a statement.
Financial terms were not disclosed for the transaction, expected to close later in the year. A report in the Korea Economic Daily said the deal was worth an estimated 1.8 trillion won ($1.6 billion), without saying where it got the information.
Established in 1979, Carlsbad, Calif.-based TaylorMade manufactures golf equipment, balls, bags and accessories. Korea is the world’s third largest golf market, behind the U.S. and Japan, according to the company.
Centroid’s chief executive officer, Jinhyeok Jeong, called the acquisition a “transformational investment” for his firm. “The industry is currently experiencing high demand, increased participation, with strong long-term opportunities around the world.”
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
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