adidas AG

TaylorMade-adidas Golf Company to acquire Adams Golf

adidas AG /
adidas AG: TaylorMade-adidas Golf Company to acquire Adams Golf
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For immediate release
                                       March 19, 2012

TaylorMade-adidas Golf Company to acquire Adams Golf

Herzogenaurach and Carlsbad, California - The adidas Group and Adams Golf, Inc.
(NASDAQ: ADGF) today announced that the TaylorMade-adidas Golf business segment
has entered into a definitive agreement to acquire all of the outstanding shares
of Adams Golf for $10.80 per share in cash. The transaction value is
approximately $ 70 million (approximately EUR 53 million), which represents a
premium of approximately 71% to the share price prior to Adams Golf´s
announcement that it was examining strategic alternatives on January 4, 2012.

Through the acquisition of Adams Golf, TaylorMade-adidas Golf reinforces its
position as the world´s number one player in golf. The addition of Adams Golf
enables TaylorMade-adidas Golf to broaden its product range and to extend its
presence across a wider array of golfers.

"This acquisition reflects our commitment to continued growth in the golf
category, " said adidas Group CEO Herbert Hainer. "The proposed combination of
Adams Golf and TaylorMade-adidas Golf brings together two highly complementary
sets of brands, combining Adams´ focus on game-improvement as well as senior and
women golfers with TaylorMade-adidas Golf´s focus on the younger and the low-to-
mid handicap golfer."

"We are very excited to team up with Adams Golf, whose management team we have
respected for many years, " commented Mark King, President and CEO of TaylorMade-
adidas Golf. "Our mission is to be the best golf company in the world across all
geographies, products and customer demographics, and adding Adams Golf is
another important step in achieving that goal."

"This merger provides strong opportunities for our employees, suppliers and
partners, " said Barney Adams, Interim CEO of Adams Golf. "The Adams Golf brand
will fit nicely into TaylorMade-adidas Golf´s stable of brands, and together we
will be able to increase our reach and better serve our customers by leveraging
a wider set of resources. We are also excited that TaylorMade-adidas Golf has
decided to maintain Adams Golf´s headquarters in Plano, Texas."

The Board of Directors of Adams Golf has unanimously approved the transaction.
Certain insiders, who include John M. Gregory, Joseph R. Gregory, SJ Strategic
Investments LLC, B.H. (Barney) Adams, Russell L. Fleischer, Mark R. Mulvoy and