TaylorMade-adidas Golf acquires Adams Golf

The adidas Group together with its TaylorMade-adidas

Golf business segment announced the successful completion of its acquisition of Adams Golf for $ 10.80 per share in cash which represents a transaction value of approximately $ 70 million (€ 53 million). The acquisition adds a golf brand to an already powerful portfolio that includes TaylorMade, adidas Golf and Ashworth.

“We’ve long admired Adams Golf’s enthusiasm for incorporating performance technologies into its equipment, just as TaylorMade-adidas Golf does,” commented Mark King, President and CEO of TaylorMade-adidas Golf Company. “Uniting the talents of the TaylorMade-adidas Golf and Adams Golf research and development departments will help us develop even better equipment for the target consumers of both brands,” he added.

In recent years, the majority of Adams Golf’s sales have been generated in the United States. TaylorMade-adidas Golf plans to use its worldwide distribution channels, established with the help of the adidas Group, to develop Adams Golf into a global brand, creating the potential to increase sales of Adams Golf. John Ward who has been appointed as the President of Adams Golf by TaylorMade-Adidas Golf will look after the business of Adams Golf. A 20-year veteran of the company’s sales force, John Ward has served as Vice President of US sales for the TaylorMade brand since 2010.

TaylorMade-Adidas Golf Company (TMaG) of Carlsbad, California is a US headquartered subsidiary of the German-based Adidas Group. TaylorMade was started in 1979 by Gary Adams, the inventor of the metalwood.