Feel Golf Company, Inc. announced today that it purchased all the assets of the Caldwell Golf Company, Inc., a competitor that manufactures drivers and putters. Both companies are headquartered in California.
The Feel Golf Company, Inc. is a designer and manufacturer of golf products, including grips, wedges, irons, drivers, putters and other golf related merchandise. Its products are designed and built by Professional Golf Association (PGA) Professionals.
The Feel Golf Company, Inc. would not disclose the purchase price, but noted that the purchase fit the companyâ€™s acquisition criteria, which is to â€œacquire technologically advanced golf equipment that can significantly improve all golfers’ playing performance and experience and increase shareholder value.”
The company has been building its distribution network over the last year, and recently signed two distribution agreements. The Feel Golf Company, Inc. expanded into Asia, with an agreement with the Planquitous Company, Ltd. The company estimates the minimum total value of the contract to be $4.2 million in sales, and will allow the company to enter the Korean market. The second distribution agreement was a seven-year deal to enter the Canadian market, which the Feel Golf Company, Inc. estimates $2 billion per year is spent on golf equipment.