KPS Capital Partners wants to sell equipment manufacturer, and asking price could top $2 billion, New York Times reports
Reported: By The New York Times, that TaylorMade Golf is up for sale, and the asking price could exceed by a factor of four what the company’s owners paid for it less than four years ago. KPS Capital Partners bought TaylorMade, which is based in Carlsbad, Calif., from Adidas for $425 million in 2017. Now, according to the Times report, the asking price could top $2 billion. KPS has retained Morgan Stanley to oversee the sale. Recreational golf has been hot during the past year, with rounds played up by 13.9 percent in the U.S. compared with 2019, according to Golf Datatech research, as the COVID-19 pandemic drove quarantined Americans in search of outdoor activities. Sales of golf equipment also surged last year, with a 10.1-percent gain in the U.S. TaylorMade sponsors many of the top touring professionals, including No. 1-ranked Dustin Johnson, Tiger Woods, Rory McIlroy and Rickie Fowler. TaylorMade’s deal with Woods in 2017 proved to be timely. Woods was struggling to make a comeback at the time, and Nike, his longtime equipment sponsor, stopped making golf equipment. Two years after signing with TaylorMade, Woods won the Masters.
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