With a bid of $1.5 million and a total purchase cost of $1.65 million, Adams Golf has purchased Denver-based Progear Holdings dba Yes! Golf and its related assets.
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, TX.. Historical financials prepared by Yes! Golf show that its revenues were approximately $10.2 million in 2007 and approximately $2.4 million in 2010.
“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 Chip Brewer, President and CEO of Adams Golf.