Adidas Closes TaylorMade Sale
The Big a completed the divestiture of its TaylorMade, Adams Golf and Ashworth golf brands to KPS Capital Partners for €425 million on Oct. 2. KPS is a $5.2 billion private equity fund which has holdings in a wide variety of businesses including consumer goods as well as industrial manufacturing. Adidas said the transaction was already baked into its guidance for 2017, after taking a €189 million charge in Q2 on the sale of the golf brands and on its earlier sale of CCM Hockey to Birch Hill Partners for €110 million. Of course, the CCM sale excluded the right ... Log in to view full article.