Suntory Ltd. said Wednesday it will sell all of its shares in its subsidiary MacGregor Golf Japan Ltd. to MacGregor Golf Co. of the United States before the end of the month.
The terms o the deal were not released.
Suntory purchased 75% of Tokyo-based MacGregor Golf Japan's shares from the U.S. company in 1984 and has since sold golf equipment in Japan and South Korea.
According to Suntory, MacGregor Golf wanted the Japan subsidiary to expand the worldwide distribution of the MAC TEC brand. Sales at MacGregor Golf Japan grew steadily with swift sales of the MAC TEC golf club series it started in 1992 as its original brand.
MacGregor Golf Japan is expected to post sales of 4.5 billion yen during the current business year through Dec. 31, according to Suntory.
