F&F hires Goldman Sachs for potential TaylorMade acquisition

F&F Co. Ltd. has engaged Goldman Sachs (NYSE: GS) as its financial advisor for a potential acquisition of golf brand TaylorMade, according to a company statement.

The South Korean fashion and lifestyle company said it is preparing to exercise its Right of First Refusal in response to a sales process initiated by Korean private equity firm Centroid Investment Partners, which currently owns TaylorMade.

F&F invested in TaylorMade in 2021 and stated it has not consented to Centroid's efforts to sell the golf equipment company. The company characterized Centroid's actions as "a significant breach of its contractual consent rights."

"We are methodically preparing to exercise our Right of First Refusal, should circumstances warrant, to ensure alignment with our original investment thesis," F&F stated. The company added that its engagement with Goldman Sachs positions it to "execute a disciplined and impactful strategy to successfully acquire TaylorMade."

F&F said it is prepared to use legal and contractual measures against Centroid for what it considers violations of their agreement. The company indicated it is evaluating multiple strategic options while working to protect its investment interests in TaylorMade.

The announcement comes as F&F seeks to advance its strategic objectives related to its 2021 TaylorMade investment through the potential acquisition process.

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