Adidas Sells TaylorMade For $425m

Adidas have sold all three of its golf brands to a US private equity firm

Adidas Sells TaylorMade

Adidas have sold all three of its golf brands - TaylorMade, Adams Golf and Ashworth - to US private equity firm KPS Capital Partners

Adidas Sells TaylorMade For $425m

Just a day after Rory McIlroy signed with TaylorMade, the brand, along with Adams and Ashworth, were sold by Adidas to the US private equity group KPS Partners.

A sale has been on the cards for a year now, after Adidas put its golf businesses on the market last May.

There have been plenty of rumours on who would buy TaylorMade, including Tiger Woods and Muira, but the New York-based KPS will add TaylorMade, Adams and Ashworth to its portfolio of over $5 billion in assets.

The sale is expected to be completed by the end of 2017 and it is unknown what will happen with the Adams Golf and Ashworth brands.

According to ESPN's Darren Rovell, Adidas golf's revenue has fallen around $1.2 billion since 2012 when it was up to $1.7 billion. That figure had fallen to just over $500 million four years later.

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Adidas have owned TaylorMade since 1997 and will now concentrate on their core apparel and footwear brands of Adidas and Reebok.

They will still make golf apparel and footwear.

The German sporting giant are looking to keep up with Nike, who also left the golf equipment market last August to focus purely on golf footwear and apparel.

David Shapiro, a managing partner of KPS, said, "TaylorMade is one of the preeminent golf equipment brands worldwide, with leading-edge products that consistently provide consumers a distinct performance advantage over the competition.

"The combination of this iconic brand and KPS' track record of working constructively with talented management teams to make businesses better will provide the ideal foundation for TaylorMade's future growth."

TaylorMade signed world number two Rory McIlroy this week to add to their current Tour staff which includes the likes of world number one Dustin Johnson, number three Jason Day, Masters champion Sergio Garcia, Olympic gold medallist Justin Rose and 14-time major winner Tiger Woods.

Elliott Heath
News Editor

Elliott Heath is our News Editor and has been with Golf Monthly since early 2016 after graduating with a degree in Sports Journalism. He manages the Golf Monthly news, features, courses and travel sections as well as our large Facebook, Twitter and Instagram pages. He covered the 2022 Masters from Augusta National as well as four Open Championships on-site including the 150th at St Andrews. His first Open was in 2017 at Royal Birkdale, when he walked inside the ropes with Jordan Spieth during the Texan's memorable Claret Jug triumph. He has played 35 of our Top 100 golf courses, with his favourites being both Sunningdales, Woodhall Spa, Western Gailes, Old Head and Turnberry. He has been obsessed with the sport since the age of 8 and currently plays at West Byfleet Golf Club in Surrey, where his handicap index floats anywhere between 2-5. His golfing highlights are making albatross on the 9th hole on the Hotchkin Course at Woodhall Spa, shooting an under-par round, playing in the Aramco Team Series on the Ladies European Tour and making his one and only hole-in-one at the age of 15 - a long time ago now!

Elliott is currently playing:

Driver: Titleist TSR4

3 wood: Titleist TSi2 HL

Irons: Mizuno MP-H4 3-iron, Mizuno MP5 4-PW

Wedges: Cleveland RTX ZipCore 50, 54, 58

Putter: Odyssey White Hot OG #5