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TaylorMade/adidas acquires Ashworth brand

Tue. October 14, 2008; Posted: 04:09 PM
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Oct 14, 2008 (The Charlotte Observer - McClatchy-Tribune Information Services via COMTEX) -- ASHW | Quote | Chart | News | PowerRating -- TaylorMade-adidas Golf has entered into a definitive agreement to acquire all of the outstanding shares of Ashworth, Inc. for $1.90 per share in cash. The transaction value is $72.8 million, which includes the assumption of $46.3 million of Ashworth debt. "Ashworth is a well-established, authentic golf apparel brand with a strong heritage and represents an excellent addition to TaylorMade and adidas Golf," said adidas AG Chairman and CEO Herbert Hainer."This acquisition underscores our commitment to continued growth in the golf category. ""This deal provides exciting prospects for our colleagues, partners and customers around the world. The Ashworth (R) brand fits perfectly into TaylorMade-adidas Golf's line-up of brands and together we will be able to increase efficiency and drive the golf apparel business going forward, leveraging a broad set of resources," said Allan Fletcher, CEO of Ashworth, Inc.

GOLF GPS PROMISES NO ANNUAL FEES

The basic mode downloads for the uPlay uPro hand-held golf GPS device are now free. The uPro features a combination of GPS and laser-range capabilities, providing hi-resolution aerial photography and satellite imagery of thousands of courses worldwide.The Basic Mode online download of one golf course, which previously cost registered users one credit, will now be free for all registered users. There are no limitations on how many courses registered users can download each year. "Other GPS devices in the marketplace charge for the equivalent of our Basic Mode, and we're providing our Basic Mode for free," says uPlay President Joey Balardeta.

"Our course database is also far more detailed than any other database in the market, so it's a win-win situation for our customers."While Basic Mode course downloads are free for courses located anywhere in the world, the uPro's ProMode course downloads are priced based on buying a package of courses. The typical uPro customer buys a package of 50 courses, which translates into an average per-course cost of $2.40. Users receive free updates to all course data for the life of the product. After purchasing a course package, course credits remain in the uPro user's account for use at anytime in the future.

NOTES

-Nike enthusiast Charl Schwartzel won the European Tour's Masters Madrid with Nike's new Victory Red irons, set to hit the market Nov. 1. He switched to the new irons three weeks ago and has finished fifth, tied for 13{+t}{+h} and first. Last week, Schwartzel was second in greens in regulation (80.6 percent).

-Looking for a stocking stuffer? Golfdotz are durable golf ball tattoos that are easily applied to golf balls and are billed as an alternative to the markers and pens, which can get on hands -- or $20 gloves. The Golfdotz are available in Golf Galaxy stores and other major retail spots and cost $5.99 for two dozen. There are multiple design options.-Zach Johnson won the PGA Tour Valero Texas Open using the Titleist Pro V1x ball and new 909D2 driver. Titleist was the most played golf ball at the Valero Texas Open with 84 players, compared to 19 for the nearest competitor. Titleist also led in the wedge (127) and putter (53) categories, and was second in drivers (36), fairway woods (43) and irons (32). Johnson's win marks the 26th for Titleist golf ball players on the 2008 PGA TOUR, more than twice the nearest competitor with 11.

-Ken Morton Jr. of the Haggin Oaks Golf Complex has joined the Cleveland Golf/Srixon Elite Advisory Board. Morton currently serves as Vice-President of Retail and Marketing of Morton Golf, as well as the President of the Association of Golf Merchandisers (AGM). Under Morton's guidance, the Haggin Oaks' golf store has won the Golf Digest/Golf World Top 100 Golf Shop Award an unprecedented 22 straight times.-Grip maker Golf Pride is providing custom laser engraving on the most popular Golf Pride models, including the DD2, the New Decade MultiCompound, the Tour Velvet, and the Tour Wrap. The kits start at $59.99 and come with all equipment needed to attach the grips to your clubs without having to visit a pro shop (golfpride.com)

-Dunning Golf (dunninggolf.com) has come up with a a washable merino wool sweater ($250) that the company promises won't get damaged from carrying your bag.

-Titleist will return to the 2009 PGA Merchandise Show to be held in Orlando, Fla., Jan. 29-31. Titleist, which had skipped some shows in the past, will participate in the Outdoor Demo Day at the Orange County National Golf Center on January 28. "In recent years, the PGA Merchandise Show has evolved significantly, as The PGA of America has shifted the show's emphasis to a more educational platform for its membership," said Jerry Bellis, Executive Vice President Sales and Marketing, Titleist Worldwide. "Our decision to participate in the PGA Merchandise Show is the result of these positive changes." Langston Wertz Jr: lwertz@charlotteobserver.com

To see more of The Charlotte Observer, or to subscribe to the newspaper, go to http://www.charlotteobserver.com. Copyright (c) 2008, The Charlotte Observer, N.C. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

For full details for ASHW click here.

    


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