Viewing By Category : Golf Acquisitions / Main
Tuesday, October 18, 2005

Golf News, SOURCE:- PGA News. The European Union head office approved Finnish winter sports company Amer Group's purchase of Adidas AG's French unit Salomon on Thursday after the companies agreed to end close cooperation with a rival golf club and ski equipment maker. Amer is the parent of Wilson Golf, and Salomon is owned by Adidas the parent of Taylor Made Golf.

The sale allows Adidas to change its name from Adidas-Salomon AG, collect $582 million from Amer and focus on its clothing, footwear and golf products.

Salomon, which is based in Annecy, France, and has about 2,770 employees, saw its own revenues drop by 8 percent during the first quarter -- a decline attributed to lower sales from its inline skating and winter sports products. Amer plans to finance the purchase with debt. It will take over the Salomon, Mavic, arc Teryx, Cliche and Bonfire brands.

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