Adidas plans to sell parts of its golf business

FROM GOLF BUSINESS NEWS

This week’s financial press has carried several reports that Adidas AG is actively seeking a buyer for parts of its golf unit, after years of slumping sales.

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The Wall Street Journal, Bloomberg and others say that a strategic review finished in March convinced the German sportswear maker’s board of directors that it should divest its Taylormade-Adidas Golf, Adams and Ashworth golf brands which largely produce golf hardware. 
The company would continue to focus on golf apparel and footwear through its Adidas Golf brand.
Taylormade-Adidas Golf, which Adidas bought along with Salomon in 1997, used to be one of the company’s top performing business units and is still the market-leading golf brand.
Ashworth was bought by Adidas for $72.8 million in 2008, and Adams Golf for $70 million in 2012.