Dallas-based ClubCorp (NYSE: MYCC), the largest owner and operator of private golf and country clubs in the United States, said it agreed to acquire Norbeck Country Club, a premier country club in Rockville, Maryland, just north of Washington, D.C., marking its third acquisition this year.
The move comes after ClubCorp is said to have engaged Jefferies and Wells Fargo Securities to explore a possible exit, under pressure from Greenwich, Connecticut-based activist investor FrontFour, since last September.
ClubCorp plans a multimillion-dollar reinvention of the club that will feature new dining amenities, and improvements and upgrades over the next two years.
“Norbeck Country Club is an exceptional, family oriented full-service club – a profile that fits nicely into our portfolio of clubs in the D.C./Maryland/Virginia area,” said Mark Burnett, ClubCorp COO and president. “We are very excited to now offer our members two outstanding clubs in the Maryland market.”
Additional clubs in the area include Eagle’s Nest Country Club in Phoenix, Maryland, which ClubCorp acquired last month, Chantilly National Golf and Country Club in Centreville, Virginia, River Creek Club in Leesburg, Virginia, Piedmont Club in Haymarket, Virginia, The City Club of Washington in downtown D.C. and Tower Club Tysons Corner in Vienna, Virginia.
“From the beginning of this process, ClubCorp went above and beyond to meet the needs of the club and the members, who couldn’t be happier to now have ClubCorp on-board,” said Nick Bobruska, president of the club’s board of governors. “With spring just around the corner, we all look forward to taking advantage of our new benefits and the many positive changes to come.”
ClubCorp held a town hall meeting and extensive focus group interviews with members, which allowed company representatives to gain firsthand insight into the club’s needs and how the member experience could be enhanced.
Plans for the multimillion-dollar reinvention of the club include bringing stylish and new dining and social features to the clubhouse and patio plus improvements to other amenities at the club. In addition, prior to the acquisition, the club began extensive pool-area renovations and improvements that are scheduled to be completed in advance of the Memorial Day weekend.
Set on 198 scenic acres, Norbeck Country Club offers 18 holes of golf with gently rolling fairways and small greens – one of the most beautiful and challenging courses in the Washington, D.C. metroplex. Additional amenities include casual and upscale dining, nine outdoor and three indoor tennis courts in a permanent tennis structure plus extensive tennis programming and team play for all ages and ability levels, an Olympic-size pool and wading pool.
Norbeck members will be eligible to participate in ClubCorp’s ONE Optimal Network Experiences program, which provides value-oriented benefits like 50% off a la carte dining at the member’s home club. In addition, members can enjoy benefits within the community and worldwide including complimentary green fees and complimentary dining when traveling throughout the ClubCorp network, which now offers access to more than 300 private clubs and special offerings at more than 1,000 hotels, resorts and entertainment venues.
ClubCorp properties include Firestone Country Club (Akron, Ohio); Mission Hills Country Club (Rancho Mirage, California); The Woodlands Country Club (The Woodlands, Texas); Capital Club Beijing; and Metropolitan Club Chicago. Located in 26 states, the District of Columbia and two foreign countries, the company and the clubs in its network serve more than 430,000 members and employ approximately 20,000 peak-season employees.