Adidas Announces to Sell TaylorMade, Other Golf Brands for $425 Million

Adidas will sell several of its golf brands to a newly established affiliate of KPS Capital Partners.
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Adidas (ADS) - Get Report agreed to sell its TaylorMade, Adams Golf & Ashworth golf brands to KPS Capital Partners for $425 million. About half of the $425 million will be paid in cash with the remainder in a combination of a secured note and contingent considerations. The transaction is expected to close in the second half of 2017.  It is subject to customary closing conditions.

Read Full Article: Adidas to Sell TaylorMade, Other Golf Brands for $425 Million

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This article was written by a staff member of TheStreet.