Cleveland sold to Srixon

Cleveland Golf has been sold to the owner of Srixon in a deal worth almost £64 million.

The popular golf club maker had been owned by winter sports specialist Quicksilver but the company said it wanted to ‘reduce exposure to risk in its non core winter equipment businesses’.

The company had originally bought a stake in Cleveland in 2005 as part of its acquisition of the Rossignol Group, and the remaining interest in the business had been acquired in 2007.

Cleveland were not available for comment on the deal as we published but watch this space for more news on this exciting deal and what it means to golfers.