TaylorMade Completes Takeover of Adams Golf
March 19, 2012
TaylorMade Golf company, a subsidiary of adidas, announced on Monday it will acquire rival Adams Golf for about $70 million.
“This acquisition reflects our commitment to continued growth in the golf category,” said adidas Group CEO Herbert Hainer in a statement. “The proposed combination of Adams Golf and TaylorMade-adidas Golf brings together two highly complementary sets of brands, combining Adams’ focus on game-improvement as well as senior and women golfers with TaylorMade-adidas Golf’s focus on the younger and the low-to-mid handicap golfer.”
Barney Adams, interim CEO of Adams, said in a statement he’s pleased TaylorMade-adidas Golf will maintain his company’s headquarters in Plano, Texas.
“The Adams Golf brand will fit nicely into TaylorMade-adidas Golf’s stable of brands, and together we will be able to increase our reach and better serve our customers by leveraging a wider set of resources.”
by Ismail Uddin