Herzogenaurach, Germany, March 10, 2010 (ots/PRNewswire) -
Sportlifestyle company PUMA announces today that it has signed an
agreement to acquire 100 percent of the golf equipment brand Cobra
Golf from Acushnet Company, the golf business of Fortune Brands, Inc.
The acquisition includes the Cobra brand as well as related
inventory, intellectual property and endorsement contracts and is
subject to customary closing conditions and regulatory approvals.
"Through the acquisition of Cobra Golf, we reinforce PUMA's
commitment to our sports performance business by strengthening our
growing and successful Golf category," said Jochen Zeitz, Chairman
and Chief Executive of PUMA. "Cobra Golf has a history of innovative
performance products fused with an edge and is therefore a perfect
fit for PUMA, reinforcing our overall mission of becoming the most
desirable Sportlifestyle company. With Cobra Golf, PUMA will
capitalize on the many opportunities in the Golf category and upside
potential ahead of us."
Based in Carlsbad, California, Cobra Golf was founded in 1973 and
produced one of the first utility clubs, the Baffler, long before use
of such clubs became popular, manifesting Cobra Golf's hybrid
leadership. This leadership and innovation continues today with
recent releases such as the new ZL and S2 Drivers, as well as the
Baffler Rail Hybrid. In 1996, Cobra Golf was acquired by American
Brands Inc. (later renamed Fortune Brands) and has since then been
managed together under the Acushnet Company umbrella with its other
With this acquisition the combination of Cobra and PUMA Golf
provides a competitive full range offering to become a better
resource to its account base, being now in the position to provide
Golf equipment next to footwear, apparel and accessories.
Pending regulatory approval, the effective date of the
acquisition of Cobra Golf is expected to be in the second quarter of
2010. Financial terms of the transaction will not be disclosed.
Further information will be provided with the release of the
first quarter results 2010.
PUMA is one of the world's leading sport lifestyle companies that
designs and develops footwear, apparel and accessories. It is
committed to working in ways that contribute to the world by
supporting Creativity, SAFE Sustainability and Peace, and by staying
true to the principles of being Fair, Honest, Positive and Creative
in decisions made and actions taken. PUMA starts in Sport and ends in
Fashion. Its Sport Performance and Lifestyle labels include
categories such as Football, Running, Motorsports, Golf and Sailing.
Sport Fashion features collaborations with renowned designer labels
such as Alexander McQueen, Mihara Yasuhiro and Sergio Rossi. The PUMA
Group owns the brands PUMA and Tretorn. The company, which was
founded in 1948, distributes its products in more than 120 countries,
employs more than 9,000 people worldwide and has headquarters in
Herzogenaurach/Germany, Boston, London and Hong Kong. For more
information, please visit http://www.puma.com
ots Originaltext: PUMA AG Rudolf Dassler Sport
Im Internet recherchierbar: http://www.presseportal.ch
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