A Dallas-based leader in private luxury clubs will acquire the Firethorne Country Club in Union County as part of a nearly $44 million deal that expands the corporation’s footprint across the Southeast.
ClubCorp announced Monday that it has signed agreements to purchase six luxury golf and country club properties in Florida, Georgia, Tennessee, Virginia and North Carolina. The company plans to invest millions in property renovations and amenity upgrades for each club, according to a news release.
The acquisition will add 171 holes of golf in ClubCorp’s southeastern markets. The company has 200 clubs in 26 states, the District of Columbia, Mexico and China.
The company’s purchase of Firethorne in Marvin and the Bermuda Run Country Club in Davie County, about 70 miles northeast of uptown Charlotte, expands its portfolio of clubs in the state to 10, company officials said.
Burnett said becausegolf clubs are doing well after the economic downturn, it’s a good time for companies such as ClubCorp to grow.
He said he does not expect sweeping staff changes: “Our goal is to keep all or the majority of the team there.”
Firethorne is an 18-hole golf course, clubhouse, water park, tennis complex and residential community about five miles south of Ballantyne. Firethorne’s owners put the club up for sale late last year, Burnett said.
In 2010, the club filed for Chapter 11 bankruptcy to save itself from foreclosure after listing debts owed to creditors worth $1 million to $10 million, including nearly $14,000 in unpaid property taxes and $1.6 million in payroll taxes owed to the IRS.
The bankruptcy case was dismissed a year later when the courts determined the club could not repay its debts, according to federal court documents. In 2012, Stratford Golf Partners bought Firethorne.
Firethorne did not return calls for comment.