The agreement was announced almost exactly a year after Adidas first announced plans to sell off the brands and focus on its apparel and footwear sales. Earlier this week, world No.2 Rory McIlroy signed a long-term partnership with TaylorMade.
“We look forward to working with chief executive officer David Abeles, his management team and all TaylorMade employees around the world to build on this great platform by driving growth both organically and through strategic acquisitions. 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.”
David Abeles from TaylorMade added: “This is the beginning of an exciting new era for TaylorMade, and our entire management team is excited to partner with KPS in this next phase of our growth and continued development of our brands, business and people. The TaylorMade team is deeply committed to making the most technically advanced performance-driven golf equipment, and this mission will never change. Given their strategic vision, operational resources and significant access to capital, KPS is the ideal partner to help TaylorMade build upon its strong momentum.”