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Japan-based company gains majority interest in Centennial-based GolfTEC

Centennial-based golf lessons company, GolfTEC, is taking a swing at expanding its international and online presence through its partnership with Golf Digest Online, a golf conglomeration in Japan.

Golf Digest Online recently acquired majority interest in GolfTEC, with a 60 percent share in the company. The remaining 40 percent is owned by Denver-based Gart Capital Partners and GolfTEC CEO Joe Assell.

“We are a dominant company in North America and in the world of our business in golf improvement and we’re bringing in a partner who can help us in some of the areas where we’re not as strong, which is digital business and presence,” Assell said of the acquisition.

Although Golf Digest Online started out as a media business, it also is involved in retail and runs an online system where golfers can book tee-time reservations at golf courses. According to a GolfTEC news release, Golf Digest Online previously owned 10 GolfTEC stores in Japan.

GolfTEC operates about 200 club-fitting and golf lessons stores, according to the release. Assell said his company holds a 25 percent market share of the U.S. golf lesson business.

In the coming year, GolfTEC plans to launch new digital initiatives with the help of GDO, Assell said.

“We are in the process of developing a complete overhaul to our mobile app and they will be advising us on that,” he said. “We [also] have a vision to launch an ecommerce platform and they will be instrumental in that.”

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