Sport and lifestyle brand Puma AG is bolstering its position in the golf world with the full acquisition of equipment brand Cobra Golf.
The Herzogenaurach, Germany-based athletic company announced Wednesday it has agreed to buy all aspects of the business from Fortune Brands Inc.’s golf business, Acushnet Co. The deal includes related inventory, intellectual property and endorsement contracts.
“Cobra Golf has a history of innovative performance products fused with an edge and is therefore a perfect fit for Puma,” Jochen Zeitz, Chairman and CEO of Puma, said in a statement.
Pending approval, the acquisition is expected to take effect as early as the second quarter of 2010. Financial terms were not disclosed.