SANTA ANA — An Arizona holding company said Thursday it has acquired Santa Ana golf club maker Bullet Cougar Golf for $2 million cash and assumption of $4 million in bank debt.
The seller, Roger Dunn Golf Shops Inc., sold its Roger Dunn Golf Shops retail chain two years ago to Worldwide Golf Enterprises, and the retail stores are not involved in the sale announced Thursday.
Bullet Cougar was acquired by International Telecom Services Inc. of Phoenix. Included in the transactions are the Bullet and Cougar lines of goods, including golf clubs and bags.
International Telecom said it has also taken over Bullet Cougar's leased production and wholesale marketing plants in Santa Ana.
All 75 employees will remain with the company, officials said, and International Telecom plans to expand production and keep the factory and headquarters in Santa Ana.
The golf clubs are sold nationally by retail stores and golf course pro shops. Bullet brand clubs are used and endorsed by several professional players on the senior golf circuit. Cougar clubs are aimed primarily at the amateur golf market.
International Telecom said it expects the golf business to report a loss on revenue of about $16 million for the fiscal year ending March 31.