Affirms Strategic Push to Secure TaylorMade, Leveraging Contractual Rights
SEOUL, South Korea F&F Co., Ltd. (KRX: 383220), a globally esteemed fashion and lifestyle company led by CEO Chang Soo Kim, announced today that it has engaged Goldman Sachs, a leading global investment bank, as its exclusive financial advisor to steer a potential acquisition of TaylorMade, a preeminent golf brand. This strategic move addresses a sales process launched by a Korean private equity firm Centroid Investment Partners (“Centroid”).
F&F reiterated its steadfast commitment to realizing the strategic objectives of its 2021 investment in TaylorMade. The company stated, “We are methodically preparing to exercise our Right of First Refusal (ROFR), should circumstances warrant, to ensure alignment with our original investment thesis,” adding, “Our engagement with Goldman Sachs equips us to execute a disciplined and impactful strategy to successfully acquire TaylorMade.”
F&F clarified that it has not consented to Centroid’s current efforts to sell TaylorMade, viewing the process as a significant breach of its contractual consent rights. “Independent of our acquisition plans, we are fully prepared to deploy all available legal and contractual measures to hold Centroid accountable for its violations,” the company asserted.
F&F is actively assessing a comprehensive array of strategic pathways while strengthening its stance to safeguard its investment interests in TaylorMade through robust enforcement of its contractual rights, including potential legal action.
Contacts
F&F Co.,Ltd.
Jiyeon Yeom
yjyeon@fnfcorp.com
