Fortune Brands (FO) is selling its its Acushnet golf business (Titleist, FootJoy.) to a Korean...

|By:, SA News Editor

Fortune Brands (FO) is selling its its Acushnet golf business (Titleist, FootJoy...) to a Korean private-equity firm (owner of Fila) for $1.1B in cash, net of expenses. Fortune says it will use the cash to strengthen its balance sheet and support the planned divestment of Beam and Fortune Brands Home & Security later this year. (PR)