Japanese conglomerate GDO buys majority stake in GolfTec

Joe Assell, Nobuya Ishizaka and Tom Gart/GolfTec

Japanese conglomerate GDO buys majority stake in GolfTec

Equipment

Japanese conglomerate GDO buys majority stake in GolfTec

Japan-based Golf Digest Online has acquired a majority interest in GolfTec, operator of nearly 200 corporate-owned and franchised golf-instruction and club fitting centers in the U.S. as well as Japan, Canada, Hong Kong and Singapore.

Golf Digest Online (not affiliated with the U.S. golf magazine of similar name), Japan’s largest golf conglomerate and owner of a major online retailer and an online tee times booking agent, is publicly traded on the Tokyo Stock Exchange and has about 550 employees. The partnership centers on GDO’s U.S. entity, GDO Sports, Inc. GDO already operates 10 franchised GolfTec studios in Japan.

GDO, which previously held a minority stake in GolfTec, purchased part of a stake owned by Gart Capital Partners to build its majority holding. The deal is expected to close July 2. Financial details of the deal were not disclosed.

“We are connecting the world through golf, and GolfTec’s global presence and effectiveness with students are tremendous assets to achieve this vision,” said Nobuya “Mike” Ishizaka, the founder, chairman and CEO of GDO.  “Helping golfers around the globe to play better and enjoy the game is vital for the success of the golf industry, and so GolfTec will be an impactful addition to our group.”

GolfTec’s leadership will be retained. GolfTec employs more than 700 instructors.

“GDO’s influence in Japan, broad golf platform and significant overall resources are integral to the future growth of GolfTec and students’ experiences,” said Joe Assell, cofounder and CEO of GolfTec.  “Approaching our 24th year, it’s gratifying to grow GolfTec from a single location to a progressive, results-oriented teaching force.”

Latest

More Golfweek
Home