Yes! Golf Sofia
Adams Golf Buys Yes!
By Kickntrue on 1/21/11
Good news for fans of Yes! putters. Adams Golf, maker of the #1 hybrids on the PGA Tour have decided to jump into the putter game by buying Yes! at auction earlier this week.
With a bid of $1.5 million and a total purchase cost of $1.65 million, Adams won a Jan. 18 U.S. Bankruptcy Court auction for the Denver-based Progear Holdings, which did business as Yes! Golf. 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.Adams is buying a company with a great reputation of making putters, but somewhere along the line reputation was apparently trumped by bad business. Documents show Yes! making $10.2M in 2007 but just $2.4M in 2010. I know the economy has been rough but losing 75% of your revenue never works. If Adams can revive the good feelings around the company- it seems like they got the company at a great price. Plus- now they have a FedExCup to add to their marketing spiel with Jim Furyk's win last year after buying a used Yes! putter at a local Boston golf store and winning with it.
[ comments ]
the Golf Digest people where saying something like this wasn't likely to happen, ala Odyssey being bought by Callaway.
glad to see it though. i hope they keep the name.
This is great news.
It really is... I love my Yes! Callie. Phenomenal putter with great feel and roll.
Great news for the Yes! brand. Hopefully new and exciting things come from this new ownership.
Matt F says:
Have to agree with the guy's above. Great news and I hope they continue the brand and fantastic putters.
[ post comment ]