ClubCorp closes on Sequoia dealOctober 2, 2014 – Article
ClubCorp has completed its acquisition of Atlanta-based Sequoia Golf, adding 50 owned and operated clubs and increasing its portfolio of private clubs by 30 percent. Sequoia Golf adds nearly $100 million in revenue and pro forma annual adjusted EBITDA of $29 million to $30 million.
“We are very excited about the addition of the Sequoia Golf properties to ClubCorp’s portfolio,” said Eric Affeldt, ClubCorp President and CEO. “We are in the membership business and this acquisition includes more than 27,000 memberships, which – because of our Network reciprocal-use program – presents tremendous benefits and value to our current members and the members of Sequoia clubs.”
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