KPS Capital Partners To Acquire TaylorMade From adidas via PR Newswire
KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire the TaylorMade Golf Company – including the TaylorMade, Adams and Ashworth brands (collectively, “TaylorMade”) – from adidas AG for total consideration of $425 million, around half of which will be paid in cash with the remainder in a combination of secured note and contingent considerations.
The good news is that all parties seem committed to the continued growth of the brand. The concern is that growth often starts with cuts. We’ll need to keep an eye on this story to see how TaylorMade is brought forward from here.