January 24, 2017
New York City, New York - Howard Milstein and the Milstein family have partnered with Miura Golf, the Japanese manufacturer of what mnay in industry say are the world's finest forged clubs. With the investment, the Milsteins acquire a majority interest in the rights to distribute the iconic equipment brand domestically and in key markets worldwide.
To help guide the new direction for Miura Golf, Milstein has brought on Hoyt McGarity, Founder and CEO of innovative club-fitting company True Spec, to serve as President.
The Milstein-Miura Golf announcement celebrates the union of two prominent and highly successful family-owned businesses.
Milstein is Chairman, President and CEO of New York Private Bank & Trust-the nation's largest privately owned, family-run bank-and its operating bank, Emigrant Bank. He is also widely known for his success in real estate development, brand-building, and his strong commitment to philanthropic work. Milstein is also Co-Chairman of the privately held Nicklaus Companies, since entering into a partnership with golf icon Jack Nicklaus and the Nicklaus family in 2007. In recent years, Milstein has invested in a range of businesses in various categories of the golf industry, from technology to equipment.
Miura long ago earned a lofty global reputation with golf clubs designed and manufactured by family patriarch Katsuhiro Miura, and a business largely supported by sons Yoshitaka and Shinei, and incorporating other Miura family members. Katsuhiro Muira began expertly hand-crafting and grinding irons in 1957, and his forged clubs-ranging from irons to wedges to putters-are still designed and forged in the company's factory located in the city of Himeji, Japan.
Moreover, the reputation of Miura equipment long ago crossed borders, and is now one of the most respected brands in the industry.
"We are excited to announce this new partnership and new chapter in Miura Golf's storied history," Howard Milstein said. "We believe that Miura, with its decades-old reputation as perhaps the world's finest designer and manufacturer of forged clubs, represents an ideal partner in the golf equipment category and is a tremendous fit with our company. History shows that some of golf's greatest major champions have used Miura irons and that it has been and remains a wonderful 'players' equipment brand. Additionally, we are expanding the line to serve players of all levels, and we are eager to introduce those offerings in the coming weeks and months. We are excited about the opportunity to further grow this prestigious brand; enhance its awareness among consumers in domestic and international markets; increase the points of distribution; and make it available to more golf enthusiasts.
"Almost 10 years ago, I had the opportunity to partner with Jack Nicklaus and the Nicklaus Companies, with the mission to take an outstanding brand, shape its direction, institutionalize it, and create a lasting legacy for the Nicklaus name and brand," Milstein added. "Over the last decade, we have evolved the branded business from one with deep roots in golf into more of a life and lifestyle brand. But during that time, we never distanced ourselves from being arguably the most iconic name in golf. Instead, we focused on strategic opportunities and aligning ourselves with likeminded partners and companies that mirror the high standards long established by Jack and his company. Miura Golf is such a company, and we are pleased and proud to announce this partnership.
"We had a great first step nearly two years ago when Jack visited the Miura factory in Japan, met with the Miura family, and sat beside Miura-san as he grinded a customized wedge for Jack. In a wonderful moment, Jack then took the chair and showed his own penchant to hand-grind clubs," Milstein said.