Golfsmith Acquires Assets of Zevo Golf.
AUSTIN, Texas--(BUSINESS WIRE)--May 28, 2003
Patented `PreLoaded(tm)' Technology for Drivers,
`Flying Buttress(tm)' Design for Irons Bolster Golfsmith's
Custom Clubmaking and Components Business
Golfsmith International Inc. today announced that it has acquired the assets of Temecula, Calif.-based Zevo Golf.
The terms of the deal were not disclosed.
"This acquisition supports Golfsmith's strategy of delivering proprietary, mid-market golf clubs, accessories and apparel to consumers through our multi-channel retail model," said Jim Thompson, president and CEO of Golfsmith. "With its patented innovations, Zevo is a perfect fit for golfers who want advanced technology at value prices."
Zevo is recognized throughout the industry for its achievements in the research and design of progressive golf clubs. In 2002, the company introduced the Zevo Compressor(tm), a titanium driver based on Zevo's patented PreLoaded Technology. The technology keeps the clubhead in a state of permanent tension, which increases clubhead strength by 50 percent and eliminates expansion of the head so that all energy is directed to the clubface at impact.
That same year, Zevo unveiled its Z-1 irons that combine a thin clubface, a perimeter-weighted iron body and a reinforcing lightweight Flying Buttress design. The improved weight distribution of the Flying Buttress design delivers more clubhead stability and a solid feel.
On June 1, existing Zevo merchandise will be available through Golfsmith's 26 retail stores, its Accessory catalog and its online store at www.golfsmith.com.
Golfsmith also will begin designing golf clubs, accessories and apparel under the Zevo brand. In addition, it will incorporate Zevo's patented technologies in future versions of Lynx(R), Snake Eyes(R), Golfsmith(R), Harvey Penick(R) and Killer Bee(R). Products containing PreLoaded and Flying Buttress technologies are slated for early 2004.
Golfsmith International Inc. is a multi-channel retailer of golf equipment, merchandise and training curriculum for consumers and golf clubmaking businesses. With more than 900 employees worldwide, Austin-based Golfsmith operates 26 retail superstores throughout the United States, distributes the Golfsmith Clubmaker and Golfsmith Accessories catalogs, and runs an online store at www.golfsmith.com. Through each channel, the company offers consumers a wide range of pro-line equipment and apparel, as well as Golfsmith's proprietary brands. Since its inception in 1967, Golfsmith has designed and marketed golf clubs, golf club components and accessories, which today are sold under the following proprietary brands: Lynx(R), Snake Eyes(R), Golfsmith(R), Harvey Penick(R) and Killer Bee(R). Golfsmith also conducts year-round training programs for clubmakers and hosts the Harvey Penick Golf Academy, which has taught Mr. Penick's renowned golf techniques to more than 17,000 golfers. The company operates wholly owned distribution centers in the United Kingdom and Canada, and works with distributors in Italy and Japan.
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|Date:||May 28, 2003|
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