Golfsmith has bought the intellectual property rights for MacGregor Golf throughout North and South America, Europe, Australia, New Zealand and Africa, at a reported cost of $1.75 million, to be paid over the course of three years.
The sale marks the end of Greg Norman's involvement with MacGregor, as his minority stake was included in the sale and he is stepping down as chairman.
SGB Golf understands that Golfsmith will position MacGrgeor as a house brand in its US retail chain, and via its catalogue and online outlets.
"Adding MacGregor to our mix of great brands broadens our appeal to a larger golfing audience and no doubt allows us to compete more effectively in the golf specialty retail landscape," said Martin Haranka, chairman and CEO of Golfsmith.
