Adidas agrees to sell its golf brands - sportstextiles: Lea SportsTextiles

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Adidas agrees to sell its golf brands

12/05/2017
Sportswear manufacturer Adidas has reached a definitive agreement to sell its TaylorMade, Adams Golf and Ashworth golf brands to a new affiliate of US investment company KPS Capital Partners for a total of $425 million. 

The deal is expected to be completed before the end of 2017.

Adidas announced in May 2016 that it was looking to divest the brands in order to focus on selling golf shoes and clothing under the Adidas label.

Kasper Rorsted, Adidas CEO, said that all Adidas Golf employees will be integrated into the company’s Heartbeat Sports business unit. 

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