Equipment
Adams Golf’s Brewer Says Sale, Dividend Among Strategic Options
Bloomberg Buisness Report today By: Matt Townsend.
Adams Golf Inc., the golf club seller that today said it hired Morgan Stanley to review strategic alternatives, may consider among its options a sale or starting a dividend, Chief Executive Officer Chip Brewer said.
Potential suitors for Plano, Texas-based Adams include Callaway Golf Co., Nike Inc. and Adidas AG, said a person familiar with the matter, who declined to be identified because the discussions are private.
Adams Golf, founded by Chairman Barney H. Adams in 1987, boosted sales 14 percent to $97.4 million in the 12 months ended Sept. 30. After posting a net loss of $12.2 million in 2009, the company has made money in six of the past seven quarters. The shares, which gained 37 percent last year, rose 4.3 percent after the close to $6.58 at 6:32 p.m. in New York.
“We are going to go through with a process that best helps shareholder value,”
Brewer said today in a telephone interview.
Morgan Stanley, based in New York, advised Fortune Brands Inc. last year on the sale of its Titleist golf unit to a group led by Fila Korea Ltd. for $1.23 billion in cash.
The review may not result in a transaction, Adams said today in a statement.
Click here to read entire article on bloomberg… http://www.businessweek.com/news/2012-01-05/adams-golf-s-brewer-says-sale-dividend-among-strategic-options.html
According to a thread on GolfWRX one writer says:
Who’s buying Adams? I’m guessing Under Armour. Golfbiz is reporting Adams is for sale. My question is who’s the players? Under Armour was a rumor on Titleist/Acushnet, could they be interested in Adams now, who’s gotta be cheaper that the Titleist acquisition. Ideas?
On GolfWRX reader are all over this. Suitors have been picked. Click here to read discussion in the forums… http://www.golfwrx.com/forums/topic/564999-whos-buying-adams-im-guessing-under-armour/
Neal Shipley was the first to admit that he enjoyed his food while in college. But since his days at Ohio State, he’s slimmed down and earned a PGA Tour Card.
That hasn’t stopped him from having fun with his wedge stampings, though it’s led to some misunderstandings.
On the 54 (degree), we have ‘Big Fudge,'” Shipley told GolfWRX. “It was supposed to be ‘Big Fridge,’ so this happened a little while ago. ‘Big Fridge’ was a nickname between my college teammates and I, with ‘fridge’ meaning stomach, a big stomach.
“We told the Ping guys to put … ‘Big Fridge’ on it, and I think maybe some bad cell service or something, and they thought I said ‘fudge,’ so they put fudge on it.”
On Shipley’s 50-degree he also continues the food theme, this time with his go-to order at the “Golden Arches,” and his stamping “DONS 7.”
“The number 7 meal, the two cheeseburger meal, that was my McDonald’s order, back when I would have McDonald’s frequently,” Shipley shared.
At GolfWRX, we are a community of like-minded individuals who all experience and express our enjoyment of the game in many ways.
It’s that sense of community that drives day-to-day interactions in the forums on topics that range from best driver to what marker you use to mark your ball. It even allows us to share another thing we all love – buying and selling equipment.
Currently, in our GolfWRX buy/sell/trade (BST) forum, @raw10628 has a L.A.B. DF3 putter and Masters putter cover up for grabs.
From the listing: “Some great items here today, time to thin out and make room for next set of gear. All prices include shipping.
LAB DF3 Purple 33.5” 68° lie with TPT – $725. LAB Masters release DF3 cover – $150.”
To check out the full listing in our BST forum, head through the link. If you are curious about the rules to participate in the BST Forum, you can learn more here: GolfWRX BST Rules
Driver: Ping G440 LST (9 degrees)
Shaft: Accra TourZ Green 5-M4
3-wood: Ping G440 Max (15 degrees)
Shaft: Accra TourZ Green 6-M4
5-wood: Ping G440 Max (19 degrees @18)
Shaft: Accra TourZ Green 6-M4
Hybrid: Ping G440 (23 degrees)
Shaft: Oban Isawa Red Hybrid Shaft 04 Flex 70 Gms
Irons: Srixon ZXi7 (5-P)
Shafts: Aerotech SteelFiber Private Reserve i80
Wedges: Cleveland RTZ (50-MID, 54-FULL, 58-MID)
Shafts: Aerotech SteelFiber Private Reserve i105
Putter: L.A.B. Golf OZ.1i
Shaft: ACCRA Putter Shaft
Grips: Golf Pride Tour Velvet
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Driver: Ping G440 LST (9 degrees) Shaft: Accra TourZ Green 5-M4 3-wood: Ping G440 Max (15 degrees) Shaft: Accra TourZ Green 6-M4 5-wood: Ping G440...
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Driver: Callaway Quantum Triple Diamond (8.5 degrees) Shaft: Fujikura Ventus Black 6 X Mini driver: Callaway Paradym Ai Smoke Mini...
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Driver: TaylorMade Qi4D (10.5 degrees) Shaft: Project X Titan Yellow 60 TX 3-wood: TaylorMade Qi4D Tour (15 degrees) Shaft: Project...
Adams Golfer
Jan 6, 2012 at 4:55 pm
As a shareholder of Adams Golf, I’m excited that Chip has finally looked at this route. There is no reason for this company to be public, and a take private or a sale to a strategic is exactly what is needed to unlock shareholder value. With Callaway trading at 13.8x EV/EBITDA, it looks like Adams should go for a pretty penny.
r8ted wrx
Jan 6, 2012 at 4:43 pm
I would like to see Adams succeed but if not then I believe Nike needs to go after them. It would make Nike that much better and able to compete more with Taylormade and Titleist.