HERZOGENAURACH, Germany, April 20 (Reuters) – German sporting goods maker Puma plans to focus on the integration of its recently acquired golf equipment brand Cobra rather than on further acquisitions, it said on Tuesday.
» Read more: Puma puts further acquisitions on the back burner
Acushnet Co., parent of Titleist and FootJoy, announced March 10 an agreement to sell one of its core assets – the Cobra Golf brand – to rising industry player Puma AG.
Terms of the sale were not disclosed, but the transaction includes related inventory, intellectual property and endorsement contracts.
Rumors about a possible sale between the two parties had intensified during the 2010 PGA Merchandise Show, but at the time, Brian Zender, Cobra Golf’s general manager, told Golfweek that the company was not for sale. However, he didn’t dismiss the notion that Cobra was entertaining offers.
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