TaylorMade sold for $425 million to private equity firm

by GOLF WIRE

 

After months of shopping its golf brands, Adidas has sold TaylorMade, Adams Golf and Ashworth Golf to KPS Capital Partners LP for $425 million.

The sports apparel and equipment brand announced the sale Wednesday; the deal is expected to be completed in late 2017. KPS Capital is a private equity firm based in New York City. It manages approximately $5.3 billion in assets across a variety of industries.

“TaylorMade is a leading global golf brand with an exceptionally strong market position,” Kasper Rorstead, CEO of adidas AG, said in a press release. “We would like to thank all TaylorMade employees for their many contributions to our company and wish them all the best for a successful future under their new ownership. At the same time, we welcome all adidas Golf employees who will be integrated into our adidas Heartbeat Sports Business Unit.”

 

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