Four years after private equity firm KPS Partners acquired Carlsbad-based TaylorMade from Adidas AG for $425 million, they’ve sold the golf equipment brand to Seoul-based Centroid Investment Partners for an undisclosed sum.
While the financial terms of the deal were not disclosed, considering the torrid growth spurt the sport has experienced over the pandemic, KPS is certain to have made a tidy return.
According to Golf Datatech, rounds played domestically grew by 14% while retail sales of golf equipment rose to $2.81 billion in 2020, a 10% jump over 2019 numbers. It was also the third highest tally on record since the market research firm began tracking industry sales and just a rounding error behind 2007 and 2008 figures on the all-time leaderboard.
Read more/Source: Forbes
