The company, which has its UK headquarters in Basingstoke, Hampshire, says the $70million deal will broaden its product range and to extend across a wider array of golfers.
Says adidas Group CEO Herbert Hainer: “The combination of Adams Golf and TMaG brings together two highly complementary sets of brands, combining Adams’ focus on game-improvement as well as senior and women golfers with our focus on the younger and the low-to-mid handicap golfer.”
Added TMaG CEO Mark King: “We are very excited to team up with Adams Golf, whose management team we have respected for many years.
“Our mission is to be the best golf company in the world across all geographies, products and customer demographics, and this is another important step in achieving that goal.”
Barney Adams, who launched Adams Golf, is also excited by the prospects.
“This merger provides strong opportunities for our employees, suppliers and partners,” he said. “The Adams Golf brand fits nicely into the TMaG stable and together we will be able to increase our reach and better serve our customers.
“We are also excited Adams Golf will maintain its headquarters in Plano, Texas.”
The transaction is subject to customary closing conditions and regulatory approvals as well as approval by Adams Golf shareholders. The transaction is expected to be completed during the summer.
Women’s World No.1 Yani Tseng and PGA Tour stars Robert Karlsson and Kenny Perry are attached to the Adams brand. Recently launched Adams products include the Speedline Fast 12 drivers, Fast 12 LS drivers and the Speedline Fast 12 fairway woods, along with the Idea a12 OS irons and hybrids.
Adams Golf also develops new products under Yes! Putters and Women's Golf Unlimited, Lady Fairway and Square 2 brands. In 2011, net sales were approximately $97 million.