ATLANTA — Ashworth, Inc. has acquired Sun Ice and the Sunice trademarks from Fletcher Leisure Group Inc. (FLG) and expects to launch a new golf-related technical outerwear line under the Sunice brand during 2008 in the U.S., the U.K., Ireland and Europe.
The announcement by the Carlsbad, Calif.-based golf-inspired lifestyle sportswear company, comes on the eve of the opening of the PGA Golf Merchandise show at the Orange County Convention Center in Orlando, Fla.
Ashworth has established a wholly-owned subsidiary, 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 marketed by Ashworth’s existing sales and marketing team. FLG will provide design services for Sunice Holdings and facilitate sourcing relationships for the new outerwear line.
The purchase price for the trademarks consists primarily of participation in the future EBITDA of Sunice Holdings, Inc.
Edward Fadel, president of Ashworth, which will oversee all operational aspects of Sunice Holdings, Inc., said, “The recognized strength of the Sun Ice brand complements our existing strength in Ashworth golf-inspired apparel, offering significant cross-selling opportunities and anticipated penetration of new accounts for both brands.”
He added that the Sun Ice line should also “leverage Ashworth’s existing sales and distribution infrastructure by enabling the concurrent marketing of two high quality, complementary product lines and expanding our overall base of sales.”
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