The adidas Group together with its TaylorMade-adidas Golf business segment has completed its $70 million acquisition of Adams Golf. John Ward, TMaG’s vice president of U.S. sales, has been named president of Adams Golf, which will continue to be based in Plano, Texas. TMaG’s headquarters is in Carlsbad, Calif.
The Adams Golf acquisition appears to give TMaG an even firmer grasp on the metal woods as Adams Golf has been successful with its Speedline line of drivers and fairway woods. Adams Golf also has been highly successful the past several years with its Idea line of hybrids. In addition, the deal give TMaG a deeper tour player staff, particularly on the Champions Tour and LPGA Tour.
“We’ve long admired Adams Golf’s enthusiasm for incorporating performance technologies into its equipment, just as TaylorMade-adidas Golf does,” said TMaG president Mark King. “Uniting the talents of the TaylorMade-adidas Golf and Adams Golf research and development departments will help us develop even better equipment for the target consumers of both brands.”
King said TMaG plans to use its worldwide distribution channels, established with the help of the adidas Group, to develop Adams Golf into a global brand, creating the potential to increase sales of Adams Golf.
“This is an incredibly exciting time for us at TaylorMade-adidas Golf,” added Mark King. “We’ve just recorded the best first-quarter performance in the company’s history, and we’re on course to celebrate another record year. Adams Golf also got off to an excellent start in 2012, with sales up 25 per cent in the first quarter. Adding the Adams Golf brand will make the organization even better equipped to serve the needs of all types of golfers, helping us continue our quest to be the best golf company in the world in terms of the quality of our products, our presence on Tour and the volume of our sales.”