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Puma puts on its golfing shoes
HERZOGENAURACH, GERMANY: Puma, one of the world's leading sports lifestyle companies that designs and develops footwear, apparel and accessories, signed an agreement on Wednesday 10 March 2010, to acquire 100% of the golf equipment brand Cobra Golf from Acushnet Company, the golf business of Fortune Brands, Inc.
Image author and source: rr-fotoreporter
“Through this acquisition, we reinforce the company's commitment to our sports performance business by strengthening our growing and successful golf category,” said Jochen Zeitz, chair and chief executive of Puma. “It has a history of innovative performance products fused with an edge and will enable the company to capitalise on the many opportunities in the golf category of sport lifestyle.”
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.
