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Adidas Drops Golf Handicap as Rorsted Chases a Cooler Crowd

  • KPS Capital Partners to buy golf brands for $425 million
  • CEO Rorsted seeking to focus on Adidas and Reebok sport brands
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Seven months into his reign as Adidas AG supremo, Kasper Rorsted has removed one of the main distractions to his push for dominance on soccer fields and in street fashion.

The German sporting-goods maker said late Wednesday it agreed to sell its TaylorMade golf unit to KPS Capital Partners LP for $425 million, ending a yearlong search for a buyer that predated Rorsted’s October appointment as chief executive officer.