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Adidas to seek buyer for main golf business

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German sportwear firm Adidas said on Wednesday it had decided to seek a buyer for its main golf brand TaylorMade, which has been struggling as the sport loses popularity, particularly in the United States.

[BERLIN] German sportwear firm Adidas said on Wednesday it had decided to seek a buyer for its main golf brand TaylorMade, which has been struggling as the sport loses popularity, particularly in the United States.

Adidas appointed investment bank Guggenheim Partners last August to help with a strategic review of its golf business, which comprises TaylorMade as well as the smaller Adams and Ashworth brands, which it had already said it wanted to sell.

It said in a statement it would focus in future on selling golf footwear and clothing under its main Adidas brand and enter into negotiations to sell TaylorMade, Adams and Ashworth.

REUTERS