“Adams Golf gets into putter business with purchase of bankrupt Yes! Golf | Industry News | PGA.com” plus 1 more |
| Adams Golf gets into putter business with purchase of bankrupt Yes! Golf | Industry News | PGA.com Posted: 20 Jan 2011 12:12 PM PST Yes! Golf will relocate from Denver and be incorporated into Adam golf's operations in Texas. PLANO, Texas -- Adams Golf has acquired putter maker Yes! Golf, company officials have announced. With a bid of $1.5 million and a total purchase cost of $1.65 million, Adams won a Jan. 18 U.S. Bankruptcy Court auction for the Denver-based Progear Holdings, which did business as Yes! Golf. The purchase includes acquisition of all of Yes! Golf's patented putter technology designs (including C-Groove Putters), the company's registered trademarks and all existing inventory and capital equipment. Yes! Golf will be integrated into the Adams Golf operations in Plano, officials said. "We have been looking for an attractive avenue into the putter market for some time and believe the Yes! Golf brand and technology platform provides us just such an opportunity," said Adams Golf CEO and President Chip Brewer. "Yes! Golf provides Adams Golf compelling putter technology and a positive brand image, including ongoing tour usage based on the performance of the product alone. The Yes! Golf brand will likely benefit from the inclusion into our operational infrastructure and we intend for it to serve as a source of future growth for our company." The purchase is subject to funding that is expected to occur within the next two business days, Adams officials said. Historical financials prepared by Yes! Golf show that its revenues were approximately $10.2 million in 2007 and approximately $2.4 million in 2010. The company filed for Chapter 7 bankruptcy in November, triggering the liquidation sale. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Golf-Westwood defends decision to miss Sawgrass Posted: 20 Jan 2011 04:01 AM PST * Westwood defends Sawgrass decision * World number one to play in Indonesia and South Korea (adds Westwood to play two Asian tournaments) By Bernie McGuire ABU DHABI, Jan 20 (Reuters) - Lee Westwood has defended his decision not to play in golf's unofficial fifth major at the Players Championship and criticised PGA Tour members for not coming over to Europe. The British world number one finished joint fourth last year at one of the sport's most lucrative events and his decision will not please the PGA Tour, which would want the world's top-ranked player in the elite Sawgrass field. "I am not a member of the PGA Tour so I don't need to play the event," Westwood told Reuters after posting a three-under-par 69 in the Abu Dhabi Championship first round on Thursday. "After the two opening World Golf Championships (events) I would bracket our (European Tour) PGA Championship in May as just as important as it offers exemption for anybody in the world's top 50 to play," he added. "I don't see many of them (Americans) wanting to take up that offer. So you can't really please everyone, can you?" A non-PGA Tour member is entitled to accept three invitations, and if he is inside the top-50 in the world rankings, can contest the Players Championship. DEFENDING CHAMPION Westwood has accepted invitations to play the Honda Classic in March, the Houston Open the week before the year's first major at the U.S. Masters in April, and the St. Jude Championship in June where he is the defending champion. The Englishman will also play three events in a row starting with the Feb. 23-27 WGC-Accenture Match Play Championship in Arizona, the Honda Classic and the WGC-Cadillac Championship. "Even with an invite I would not be able to prepare properly and that's not the way to go into a big event like the Players," added the 37-year-old Englishman. "I can understand what the PGA Tour might feel about my decision and they have every right to think that." Westwood intends to take a week's break when the Players tournament commences on May 12 at Ponte Vedra Beach in Florida. "I wouldn't want to be playing in the Players Championship given that I wouldn't have played (on the U.S. Tour) since the Masters in early April," he said. Westwood will also play in the inaugural Indonesian Masters at the Royale Jakarta Golf Club in from April 21-24 before taking part in the Ballantine's Championship in South Korea the following week. "Asia has always been good to me over the years as I have won several titles across the region and I hope to challenge for my first win in Indonesia," Westwood said in an Asian Tour statement. (Additional reporting by Sudipto Ganguly) (Editing by Tom Pilcher and Ed Osmond; To query or comment on this story email sportsfeedback@thomsonreuters.com) This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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