When the golf clothing market is tanking what does Carlsbad-based golf clothing company Ashworth, Inc do? They acquire another golf clothing company (Sunice) and set it up a wholly-owned subsidary.
Sunice Holdings, Inc., which will own the Sun Ice and Sunice trademarks and be entirely focused on the new technical outerwear line. The product line will be concurrently marketed by the Company’s existing sales and marketing team dedicated to Ashworth®-branded apparel. FLG will provide design services for Sunice Holdings, Inc. and facilitate sourcing relationships for the new outerwear line.
To Ashworth’s credit they got Sunice for pretty much nothing. Rolling forward they’ll just have to share the EBITDA with the former owners and it also gets them into the booming ski outerwear market (please note sarcasm on the world “booming”).
[Link: Businesswire]
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