Chuan Adidas Wants To Compete For Fortune&Nbsp; Brands Golf Business
According to four people familiar with the matter, the famous sports brand is now known.
Adidas
And Asset Management Co Blackstone Group is bidding to buy FortuneBrands.
Golf
Business.
One insider, who did not want to be named, also said that Sumitomo rubber (SumitomoRubberIndustriesLtd.) could also submit a bid application to the company.
According to a person familiar with the matter, FortuneBrands's golf business is scheduled for the last round of bidding in May 9th.
In the next few weeks, FortuneBrands will be with more buyers.
Acquisition matters
Initiate consultations.
It is understood that as early as the end of 2010, FortuneBrands had announced that it planned to sell or divest its golf business.
The Department has the famous golf brand Titleist, FootJoy golf shoes and gloves.
Statistics show that in 2010, the sector achieved a total revenue of 1 billion 240 million US dollars and operating income of nearly US $80 million 200 thousand.
The sector's cash flow in 2010 was $100 million.
At present, its market value may be between 800 million and 1 billion dollars.
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