Message #9 From:
NewsBot Date: December 20, 2006 10:36:00 AM
ADGO News Adams Golf to Acquire Women's Golf Unlimited Brands
PLANO, Texas--(BUSINESS WIRE)--Adams Golf (OTCBB:ADGO) announced today that it will acquire certain
assets of Women’s Golf Unlimited, including
the trademarks, internet domain names and customer lists for the Square
Two Golf™ and Lady Fairway™
brands. The acquisition is subject to certain conditions, including the
approval of Women’s Golf Unlimited
shareholders. The closing is expected to occur in the first quarter of
2007.
“We have grown our women’s
club business significantly over the past two years and believe that we
will further that growth via a multi brand strategy,”
stated Mr. Chip Brewer, CEO and President of Adams Golf. “Concurrently
with this acquisition, we will form a separate business unit to
concentrate our focus on this important category. The Women’s
Golf Unlimited brands will remain separate and distinct in the consumer’s
eye, but benefit from Adams Golf’s overall
corporate resources. Both the Adams Golf women’s
products and the Women’s Golf Unlimited
brands should benefit from this incremental focus and resources.”
Developing high-performance and technologically innovative golf products
is the cornerstone of Adams Golf. From the initial design, through
manufacturing and servicing, Adams Golf is committed to helping golfers
of all abilities enjoy the game of golf. For more information on Adams
Golf, visit adamsgolf.com.
This press release contains "forward-looking statements" made under
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. The statements, using terminology such as “may,”“will,”“should,”“expect,”“plan”
or “believe,”
include, but are not limited to statements regarding our ability to
maintain our current share of the women’s
golf equipment market and to expand our sales in this market segment
through the acquisition of certain assets of the Square Two Golf and
Lady Fairway brands. Such statements reflect the current view of the
Company with respect to future events and are subject to certain risks,
uncertainties and assumptions related to certain factors including,
without limitation, the following: product development difficulties;
product approval and conformity to governing body regulations; assembly
difficulties; competing product introductions; patent and trademark
infringement risks; uncertainty of the ability to protect intellectual
property rights; market demand and acceptance of products; the impact of
changing economic conditions; the success of our marketing strategy; our
dependence on a limited number of customers; business conditions in the
golf industry; reliance on third parties, including suppliers; the
actions of competitors, including pricing, advertising and product
development risks concerning future technology; the management of sales
channels and re-distribution; and one-time events and other factors
detailed under "Risk Factors" in our Form 10-K's, Form 10-Q's and other
Securities and Exchange Commission filings. These filings can be
obtained by contacting Adams Golf Investor Relations.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to be correct. Based upon changing
conditions, should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect,
actual results may vary materially from those described herein. Except
as required by federal securities laws, Adams Golf undertakes no
obligation to publicly update or revise any written or oral
forward-looking statements, whether as a result of new information,
future events, changed circumstances or any other reason after the date
of this press release. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its behalf
are expressly qualified in their entirety by the applicable cautionary
statements.
