Enterprise sale of Ray Cook Golf, credited with more than 200 tour wins, will include the Billy Baroo putter line, made famous in the classic cult golf movie “Caddyshack”
May 27, 2011
San Diego, CA – “Spaulding, this calls for the ol’ Billy Baroo”, Ted Knight’s Caddyshack character Judge Elihu Smails declares as his caddie purposefully pulls out the crushed purple velvet bag protecting the mythical golf club. “Oooh, Billy, Billy, Billy” the judge purrs as he caresses his now legendary Billy Baroo putter.
The Billy Baroo name, included with all of the intellectual property of Ray Cook Golf, is now up for sale. In fact, the entire Ray Cook Golf Enterprise, including the complete Ray Cook product line that features designs developed by Don T. “Scotty” Cameron, will be auctioned off on June 8.
This is a rare, cost-effective opportunity for a company to obtain legendary, well established golfing legacy, without the marketing, design and engineering costs typically associated with the development of a brand name.
Heritage Global Partners has been selected by Ray Cook Golf to conduct a live auction of its assets. The live auction will be conducted in an open outcry fashion on Wednesday, June 8 at 1 pm CDT, at the Barton Creek Resort Conference Center in Austin, Texas. Registered bidders will also be able to participate in the auction over a dedicated teleconference line.
“This is a great ‘plug and play’ opportunity for a golf industry player looking to add an established brand name to their existing products,” said Brandon Smith, VP of Heritage Global Partners. “The Ray Cook brand has stood the test of time since 1963, as golfers worldwide, including scores of tour players, have elected to carry and use Ray Cook putters, wedges and chippers. A new owner could benefit from a brand name that has been around for nearly 50 years and used by millions of golfers worldwide.”
The designs and names created by the company also include the legendary Ray Cook mallet putter design, as well as the Blue Goose and the renowned Ray Cook Chipper, both invented by legendary Titleist® craftsman “Scotty” Cameron, who began his golf career with Ray Cook.
The Ray Cook Golf auction includes a complete single lot bulk sale offering of all tangible and intangible assets, including the rights, patents, common law and registered trademarks, physical inventory and capital equipment. The company’s inventory of assets includes nine putter lines and more than 40 designs of putters and wedges. Assets also include manufacturing equipment and furnishings, as well as marketing vehicles such as the company website and URL, customer mailing lists as well as the well-established Ray Cook Golf brand.
Since 1963, the name Ray Cook has been synonymous with success on the PGA and LPGA circuit, as the best players in the world have used Ray Cook putters. Ray Cook putters are credited with over 200 tour wins, including wins in all of Golf’s Majors (The Master’s, The U.S. Open, The British Open, and the PGA Championship) – and is the only independent putter company to notch a tour victory in every decade since the 60’s. Golf professionals including Billy Casper, Nick Price, Orville Moody, Roberto De Vicenzo, Dave Stockton, Donna Caponi and Nancy Lopez successfully achieved major tour victories with the assistance of Ray Cook Golf putters.
Parties interested in registering to participate in the Ray Cook Golf auction must sign a non-disclosure agreement to gain access to Company documents available for review in a Virtual Data Room. The agreement, together with contact information and a general description of the assets, can be found on the Heritage Global Partners website at www.hgpauction.com. Barton Creek Resort Conference Center, where the auction will be held live, is located at 8212 Barton Club Drive in Austin, Texas. Please contact Brandon Smith at bsmith@hgpauction.com if you need any assistance.
Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is an asset advisory and auction services firm, which assists large and small companies with buying and selling of assets. Heritage Global Partners offers asset advisory and auction services, including complete enterprise sales and multi-lot auctions, both live and over the internet. HGP also offers asset brokerage, asset inspection, asset valuations and internal asset redeployment vehicles among other services.