Adidas to seek buyer for TaylorMade golf business
German sportswear firm Adidas said on Wednesday it would seek a buyer for its main golf brand TaylorMade, which has been struggling as the sport loses popularity, to help it focus on its core brands.
Adidas appointed investment bank Guggenheim Partners last August to help with a review of its golf business, which also includes the smaller Adams and Ashworth brands that it said then it wanted to sell.
It will focus in future on selling golf footwear and clothing under its main Adidas brand and enter into negotiations to sell TaylorMade, Adams and Ashworth.
“The planned divestiture will allow us to reduce complexity and focus our efforts on those areas of our business that offer the highest return,” said Chief Executive Herbert Hainer.
Click here to read full story
