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
Titleist "Dynamite Thread" to increase the yardage of their balls. 1949: Titleist became the most used ball at the U.S. Open Tournament. 1976: Titleist was purchased by American Brands (now known as Fortune Brands). 1985: Fortune Brands]sold off the Acushnet Company's Acushnet Rubber division, which was Acushnet's original business (circa early 1900s). 2002: Titleist reached the $1 billion mark in annual revenues. On December 8, 2010, Fortune Brands announced that it would soon sell or spin off Titleist and some other brands. It was then announced on May 20, 2011 that a Korean group associated with Fila Korea, Ltd. and Mirae