Golfsmith International caters to sports clubs on both sides of the US-Canada border. Formed by the combination of Texas-based Golfsmith and Canada's Golf Town, newly-formed Golfsmith International operates about 95 golf stores in the US and another 55 (under the Golf Town banner) in Canada and Boston. It also sells golf and tennis equipment, apparel, and accessories online. Brands include TaylorMade-adidas, Callaway, Mizuno, and Nike. Golfsmith also teaches golfers to assemble their own clubs and offers custom fitting and repair services for clubs and racquets. Founded in 1967 as a mail-order seller of custom-made golf clubs, Golfsmith in 2012 was acquired by Canada's Golf Town.
Change in Company Type
The sale of Golfsmith to Golf Town for about $97 million followed Golfsmith's announcement in spring 2012 that it was evaluating its alternatives as it struggled against years of losses on a spotty record of revenues. The deal, which closed in July 2012, was backed by OMERS Private Equity (one of Canada's largest pension funds) and created the world's largest golf specialty retail business. The merged company is led by Golfsmith CEO Martin Hanaka and its president and COO Sue Grove. Golf Town CEO Ron Horn Baker assumed the executive VP role for stores.
In addition, Golfsmith runs the Harvey Penick Golf Academy, a school for golfers.