Sport lifestyle giant PUMA announces today that it has signed an agreement to acquire 100% 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.
According to Jochen Zeitz, Chairman and Chief Executive of PUMA that through the acquisition of Cobra Golf, PUMA's business are reinforced by strengthening Golf category. With Cobra Golf, PUMA will capitalize on the many opportunities in the Golf category and upside potential.
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.
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.
PUMA is one of the world's leading sport lifestyle companies that designs and develops footwear, apparel and accessories. 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.
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