Acushnet Company (which includes Titleist, FootJoy, Scotty Cameron, Knight, and other golf product brands). On May 20, 2011 it was announced that a Korean group associated with Fila Korea, Ltd. and Mirae Asset Private Equity would purchase Acushnet for $1.23 billion in cash. Founded in Acushnet, Massachusetts by Philip E. "Skipper" Young in 1910, the Acushnet Process Company focused on deresinating latex and supplying rubber to industry, and over time began to make their own rubber-based products including water bottles and bathing caps. Eventually, Acushnet Process became a manufacturer of golf equipment, principally, golf balls. In 1932, the company sectioned into two
Jennings & Company the laws of Illinois and it purchased the assets of O. D. Jennings & Company from the estate of Ode Jennings. On May 15, 1957 Jennings & Company was merged into Hershey Manufacturing Company of Illinois, a company that had been incorporated on April 27, 1939. Over 80% of the business of Hershey Manufacturing then comprised the manufacture and sale of slot machines through its Jennings division, although it also engaged in governmental subcontract work and the manufacture of vending machines and photoflash equipment. By the early 1960s, there were five major manufacturers of slot machines in the United States.