Seoul, Korea: South Korean fashion group F&F Co has ignited a high-stakes corporate clash by launching a formal bid to acquire TaylorMade Golf, while simultaneously threatening legal action against Centroid Investment Partners for initiating a sale without its consent.

F&F, which backed Centroid’s 2021 acquisition with a ₩550 billion (about US$420 million) investment and holds what it claims is the largest stake in TaylorMade, insists it secured key contractual rights, including a right of first refusal and consent authority over any sale.

According to a report by Golf Business Review, the company denounced Centroid’s recent move to appoint JPMorgan and Jefferies as sales managers and market the brand – valued at ₩5 trillion (about US$3.7 billion) – as a unilateral breach of agreement.

“There has been no change in our intent to acquire TaylorMade,” F&F stated, pledging to deploy ‘all available legal and contractual measures’ to block the sale and enforce its rights.

F&F views TaylorMade as a strategic cornerstone in its global fashion ambitions and points to its past success transforming Discovery Expedition and MLB into profitable apparel brands in Asia.

The fashion firm has made clear that it will not relinquish TaylorMade lightly, especially given the golf company’s strong commercial trajectory, including 2023 revenue of US$1.44 billion – up from US$943 million in 2020 – driven by its expansion in golf ball sales.

Despite Centroid’s original intention to take TaylorMade public via the New York Stock Exchange, the pivot to a direct sale has exposed deep fractures between the partners.

Key points from the unfolding dispute include:

• Valuation conflict: Centroid seeks ₩5 trillion, more than double its acquisition price.
• Legal challenge: F&F alleges its consent is legally required and has pledged full-scale legal action.
• Historical ownership: TaylorMade has changed hands multiple times – from adidas to KPS Capital Partners, and then to Centroid – with each owner reshaping its path.
• Current status: TaylorMade remains one of the top three global golf brands, sponsoring major athletes and performing strongly in both domestic and international markets.

With neither Centroid nor TaylorMade issuing official comments, the stand-off threatens to delay or derail a blockbuster deal in the golf equipment sector.