Acushnet Holdings Corp. acquired KJUS for $28.7 million (net of cash acquired), a transaction completed in July 2019, structured as majority-owned subsidiary (redeemable noncontrolling interest recorded).
KJUS operates in KJUS apparel & outerwear, is based in Switzerland (global). KJUS is a Swiss-based manufacturer of premium performance ski and golf apparel and outerwear. The brand grew out of technical skiwear associated with namesake Lasse Kjus and later entered the golf outerwear and apparel market with a focus on comfort, freedom of movement and all-weather protection. Acushnet completed the acquisition through a majority-owned subsidiary on July 3, 2019 for a purchase price of $28.7 million, net of cash acquired, recording a $5.0 million redeemable noncontrolling interest and issuing a $4.4 million loan to the minority shareholders. KJUS results are reported outside Acushnet's existing reportable segments.
Extends Acushnet's apparel and outerwear presence with a premium global brand and adds design and innovation capability the company intends to leverage across its existing distribution channels.
Premium, technically-differentiated apparel brand extending Acushnet beyond golf balls, clubs and footwear. Increase KJUS sales by expanding production capacity and leveraging Acushnet's existing distribution channels. Reported outside Acushnet's existing reportable segments (standalone KJUS)
On July 3, 2019, the Company, through a majority owned subsidiary, completed the acquisition of KJUS, a premium global ski and golf sportswear company, for a purchase price of $28.7 million, net of cash acquired.Acushnet Holdings Corp. FY2019 Form 10-K, Business Combinations note
Advisory firms were not disclosed for this transaction.