TaylorMade sold to firm for $425 million

2016 05 Taylor Made1 4Ef9F3D60E48F60Baa5813F356Ceb776

TaylorMade, Ashworth and Adams have been sold to private equity firm KPS Captial Partners for $425m almost a year to the day after adidas Group put them up for sale.

The deal is expected to be completed by the end of the year – bringing an end to a 20-year association between adidas and TaylorMade – and comes just a day after news broke of Rory McIlroy’s $100m contract to play TaylorMade clubs.

“TaylorMade is a leading global golf brand with an exceptionally strong market position,” said Kasper Rorstead, CEO of adidas AG.

“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.”

Read more - Tiger Woods signs deal with TaylorMade

Rory Sergio M2

TaylorMade, Ashworth and Adams were put up for sale on May 4, 2016, after revenues at TaylorMade-adidas Golf decreased by 1% for the first quarter of the year, while the rest of the adidas Group enjoyed a 26% growth.

The negative results were largely blamed on the sales declines at Ashworth and Adams and it is unclear as yet what the long-term future of both of those brands will be under the new owners.

David Abeles, CEO of TaylorMade, added: “This is the beginning of an exciting new era for TaylorMade, and our entire management team is excited to partner with KPS in this next phase of our growth and continued development of our brands, business and people.

Read more - TaylorMade TP putters have 'wow' factor

Rory Bag

“Given their strategic vision, operational resources and significant access to capital, KPS is the ideal partner to help TaylorMade build upon its strong momentum.”

David Shapiro, a managing partner of KPS, said: “TaylorMade is one of the preeminent golf equipment brands worldwide, with leading-edge products that consistently provide consumers a distinct performance advantage over the competition.

“The combination of this iconic brand and KPS' track record of working constructively with talented management teams to make businesses better will provide the ideal foundation for TaylorMade's future growth.”

Share this Article

share-logo
twitter-logo facebook-logo

Latest Videos See all videos right arrow

play button
CALLAWAY MAVRIK DRIVERS - Should one of these be your new driver?
Callaway
play button
MAVRIK vs EPIC FLASH – Is Callaway’s new driver longer???
Callaway
play button
REVIEW – TAYLORMADE SIM vs SIM MAX
TaylorMade
play button
NEW TAYLORMADE SIM DRIVERS – Why you NEED to try them
TaylorMade
See all videos right arrow

Golf News

The big problem facing Jordan Spieth
Report: Glasgow council courses lined up for closure
Ex tour pro disputes 'fastest round' record
Bryson DeChambeau given slow play warning in Dubai
Golf community pays tribute to basketball great Bryant

Other Top Stories

Tiger Woods puts new irons in the bag
New Fife golf course gets go ahead
REVIEW - Adare Manor, Ireland's rejuvenated masterpiece
Win a spot in the ASI Scottish Open Pro-Am with Hilton
Padraig Harrington targets 2020 Ryder Cup captaincy

Quick Fault 'n' Fixes See all videos right arrow

play button
A more upright posture for more consistency
Watch
play button
How to improve your ball flight
Callaway
play button
Keep the arms connected to the body
Watch
play button
Stand taller at address says Denis Pugh
Watch
See all videos right arrow