Firelight Corporation has acquired substantially all of the assets, intellectual property rights and goodwill of Slotline Golf, Inc.’s golf club and putter business. Terms of the deal were not disclosed, but the sale to Firelight includes the right to use the Slotline name and to manufacture and market all pre-existing models/designs of the sellers.
Firelight expects to introduce the first new Slotline putter models at the PGA Show in Orlando, Florida late-January 2005. Firelight intends to begin selling the new putters to the public through specialty retailers worldwide in the second quarter of this year.
Jay D. Haber, Chairman and Chief Executive Officer of Firelight, said, “This is an important step for Firelight as Slotline has been a mainstay among golf enthusiasts for a quarter of a century. We [Firelight] hope to bring back the unparalleled quality and innovative designs that made Slotline a household name among millions of golfers.” Mr. Haber further noted that “the Slotline putters are a significant complement to the products which Firelight is currently distributing, including our Butch Harmon line of golf teaching videos. In addition, Firelight has also had preliminary contacts with several high profile professional golfers to participate in the direct response marketing campaign which Firelight intends to begin in the near future to actively market and distribute the Slotline products to the public.”
The Duran Group, LLC, a product marketing firm in Los Angeles, California, is already developing and will supervise the implementation of Firelight’s marketing campaign for the Slotline putters. Tony Duran, President of The Duran Group, LLC, stated, “Slotline is an exciting brand of putters that is known around the world. We are well into the process of reintroducing new and certain classic Slotline putter models. Combined with Firelight’s other golf products already being offered to the public, Firelight must now be seriously considered as a player in the golf industry.”
In addition to acquiring all of Slotline operating assets, Firelight has entered into a design agreement with Duke Duclos, the founder of Slotline Golf, Inc., for the design of a minimum of five new Slotline putters for immediate introduction into the marketplace. Mr. Duclos commented that “Firelight’s significant contacts within the golf industry and commitment to producing a superior product line” were the principal reasons that he decided to join forces with Firelight as opposed to any other competitor. Mr. Duclos also said, “I am tremendously excited about the opportunity to focus strictly on new putter designs and leave the production and marketing responsibilities for the Slotline putter series to others. I truly believe that this step will further improve the quality of the product carrying the Slotline name to the golfing world.”
