This article was posted on the ChosunBiz MoneyMove (MM) site at 2:52 p.m. on Oct. 15, 2025.
With efforts underway to sell the management rights of TaylorMade, one of the world's three major golf brands, domestic fashion corporation F&F, which holds a right of first refusal, has reportedly arranged funding measures. Mirae Asset Securities, Samsung Securities and Korea Investment & Securities will handle equity investment and acquisition financing.
According to the investment banking (IB) industry on the 15th, F&F had received proposals from several securities firms to exercise its TaylorMade right of first refusal and decided to partner with Mirae Asset, Samsung and Korea Investment & Securities.
F&F is said to have valued TaylorMade at about 4 trillion won and devised a funding plan. It is understood likely that these securities firms will provide funds through methods such as price return swaps (PRS) while also offering acquisition financing. F&F will use its available funds to make an equity investment. In addition, private equity such as domestic credit managers may also participate.
Centroid Investment Partners (hereafter Centroid) selected JPMorgan and Jefferies as sale advisers and is pushing ahead with the sale of TaylorMade's management rights. The market views the corporate value at about 4 trillion to 5 trillion won.
In early last month, four to five qualified bidders (shortlist) were selected, and due diligence is currently underway. The main bid schedule has not yet been set.
F&F participated as a strategic investor (SI) when acquiring TaylorMade. Because it holds a right of first refusal, it has the right to acquire the management rights first on the same terms within 14 days after a third party's acquisition offer. F&F has said it intends to exercise the right of first refusal and has appointed Goldman Sachs as adviser.