As of late, Puma has been tapping into its $605.6 million cash position and has recently acquired a stake in the Botswanan ecotourism company Wilderness Safaris, as well as the Cobra Golf brand, which was fully purchased earlier this month for an undisclosed sum.
Upon discussing the companys position with shareholders at Pumas annual meeting, Jochen Zeitz, chief executive of Puma said that following last week, Puma will look to settle down and focus on the integration of its recently acquired golf equipment brand Cobra before making further acquisitions.
“We are currently concentrating on the integration of the Cobra brand,” said Zeitz according to published reports. Antitrust authorities have given a green light for the deal, Zeitz said, adding that he expected Cobra to reach sales of at least $100 million next year.
Through the acquisition of Cobra Golf, we reinforce Pumas commitment to our sports performance business by strengthening our growing and successful Golf category, said Zeitz.
