Adidas has sold Taylormade et al to KPS Capital for $425m

quote:

---

Adidas has sold its golf brands TaylorMade, Adams and Ashworth to New York City-based private equity firm KPS Capital Partners for $425 million. The athletic-apparel giant had been actively seeking a buyer for its golf brands since this time May 2016.

The news was announced in a press release, which stated that the sale will be “half … paid in cash with the remainder in a combination of secured note and contingent considerations.” Completion of the transaction is expected later this year.

---