Ashworth, Inc. announced the acquisition of the Sun Ice and Sunice trademarks from Fletcher Leisure Group Inc., a company owned by its new CEO. The company expects to launch a new golf-related technical outerwear line during 2008 under this brand in the U.S., U.K., Ireland and Europe.

Allan Fletcher, who joined Ashworth as CEO last October 2007, is the founder of Fletcher Leisure Group, which has been one of Canada's leading suppliers of branded golf apparel, sportswear and golf equipment for over 40 years and is a long-standing business partner of Ashworth. Fletcher was responsible for the operations and strategic direction of FLG and served as its president until December 2003 when he became the chairman and chief executive officer of FLG. Fletcher held 100% ownership interest in FLG.


The purchase price for the trademarks consists primarily of participation in the future EBITDA of Sunice Holdings, Inc.


Ashworth 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 concurrently marketed by the company's existing sales and marketing team dedicated to Ashworth-branded apparel. FLG will provide design services for Sunice Holdings, Inc. and facilitate sourcing relationships for the new outerwear line.


Edward J. Fadel, president of Ashworth, who will oversee all operational aspects of Sunice Holdings, Inc., said, “The recognized strength of the Sun Ice brand in technical outwear complements our existing strength in Ashworth golf-inspired apparel, offering significant cross-selling opportunities and anticipated penetration of new accounts for both brands. 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.”


Allan H. Fletcher commented “The relationships and outerwear expertise acquired in this transaction will also promote improvements to the Callaway Golf apparel outerwear product line and further strengthen the company's position in the golf market.”


Ashworth, based in Carlsbad, CA, makes golf sportswear under the Ashworth brand, as well as under Callaway through a license. It is owns The Game and Kudzu headwear and apparel brands.