NEW YORK, Oct. 3, 2011 /PRNewswire/ -- Tharanco Lifestyles LLC today announced an agreement has been reached by the company to acquire Dunning Golf.
Founded by Toronto native Ralph Dunning and known for its clean and sophisticated aesthetic, Dunning Golf is a premium brand of high performance golf clothing distributed through prestigious green grass golf shops and select specialty stores. Mr. Dunning will maintain a partnership in the new entity and will continue to design the collection for the company.
Led by apparel industry veterans, Haresh Tharani and Michael J. Setola, Tharanco Lifestyles LLC is a brand management, design, and operating company that through acquisition or strategic partnership with emerging and established brands, provides a platform for international and domestic growth. Dunning Golf joins golf lifestyle brand Greg Norman Collection, who under Tharanco Lifestyles LLC has increased its market penetration in the U.S. with the signing of new product licenses, design and operational excellence and additional international distribution partners.
"Our strategy is to acquire brands that are leaders in their category and use our platform to grow its global distribution and brand recognition," said Haresh Tharani, Chairman, Tharanco Group.
"We've created a platform of operational excellence by making strategic investments in order to properly service the golf industry which allows us to make this acquisition of Dunning Golf with confidence," said Michael J. Setola, President and CEO of Tharanco Lifestyles LLC. "Ralph Dunning revolutionized the golf industry in 2001 when he launched the very first apparel line for golf comprised entirely of performance fabrics. We're confident that with Ralph's brand vision and our operational platform we're poised for this acquisition to be a success. We're thrilled for Greg Norman Collection and Dunning Golf, the two strongest brands in authentic golf performance apparel, to be under the Tharanco Lifestyles LLC umbrella."
"I'm excited to be joining forces with Tharanco Lifestyles," said Ralph Dunning, "After carefully looking at several options I'm confident that Michael and Haresh have the expertise, relationships and resources necessary to globally grow the brand while maintaining the core principals it was built on."
The deal is expected to close in the next 30 days.
About Tharanco Lifestyles, LLC
Industry veterans Haresh Tharani and Michael J. Setola created Tharanco Lifestyles LLC in 2009 with the acquisition of the Greg Norman Collection. The partnership offers emerging and established brands a strong and resourceful operations platform with deep experience in apparel sourcing and brand building in the domestic and international markets. In addition to Greg Norman Collection, Tharanco Lifestyles LLC is the exclusive retail-licensing partner for John Bartlett.
About Dunning Golf
Dunning Golf was founded by Toronto native Ralph Dunning. A road rider and Ironman® competitor, he first garnered widespread acclaim in the 90′s with his Rip N Hammer line of premium technical clothing for triathletes and cyclists. Dunning also drew praise for his work on behalf of some of the world's largest and most authentic sports brands, including Saucony, GT Bicycles and Cervelo.
In 2001, Dunning revolutionized the golf industry by launching the very first apparel line comprised exclusively of performance fabrics. Tested and trusted by the world's greatest athletes, our proprietary technical fabrics are engineered from the yarn up; meaning performance is built in and won't wash or wear out after repeated use.
Dunning Golf is available at prestigious green grass pro shops and select specialty stores worldwide.
SOURCE Tharanco Lifestyles LLC