- TaylorMade for sale?
In the NYTimes Deal Book…”KPS Capital Partners has hired Morgan Stanley to run a sale of TaylorMade, the golf equipment brand, DealBook has learned. A deal could value the company at more than $2 billion; KPS bought it for $425 million from Adidas four years ago. Spokespeople for Morgan Stanley and KPS declined to comment, while TaylorMade was unavailable for comment.”
“Adidas sold the brand to KPS in 2017, as golf was falling out of favor and the German sportswear group sought to refocus on shoes and clothes. (It’s since tapped JPMorgan Chase to weigh a sale of its Reebok brand.) By the time KPS bought TaylorMade, the brand had struck a deal with Tiger Woods, who needed a club sponsor after Nike quit the business. When Mr. Woods signed the deal, he was struggling to make a comeback, but two years later he won the Masters.”