Fila Korea to Buy Golf Biz for $1.2 Billion

The mergers and acquisitions market continues to heat up.

The owner of the Footjoy and Iconic Titleist golf brands said Friday it is selling the brands to a group led by Fila Korea Ltd., the owner of Fila, and Mirae Asset Private Equity, Korea’s largest private equity firm.

The purchase price for Fortune Brands Inc.’s Acushnet Co. golf business was $1.2 billion in cash.

Footjoy is the largest golf footwear brand in the world, according to a statement released by the companies.