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KPS Capital Partners LP is buying Carlsbad's TaylorMade Golf Co. from Adidas AG for $425 million.
Adidas, which had been public about wanting to sell its golf business, announced May 10 that it had entered its definitive agreement to sell the unit.
Adidas will be selling the TaylorMade, Adams Golf and Ashworth brands. Employees of Adidas Golf will stay with Adidas and be integrated into the parent company's Heartbeat Sports business unit.
