Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Gary Player Golf Plan To Acquire Pureflight Golf

Gary Player Golf Announces Plans To Acquire Pureflight Golf
Company, Inc.

MEDIA RELEASE FROM GARY PLAYER GOLF.COM


PALM BEACH GARDENS, Fla., Feb. 1 /PRNewswire-AsiaNet/ -- Gary Player Golf.Com, Inc. (the "Company") announced today that it has entered into a letter of intent to acquire Pureflight Golf Company, Inc. ("Pureflight") for cash and shares of the Company's common stock.

Commenting on today's developments, Edward M. Tracy, President and Chief Executive Officer of the Company, stated, "We are very pleased to announce this transaction with Pureflight Golf. We believe that Pureflight's Purestroke Tour Series Putters(TM) are first-rate products with excellent sales results and tremendous potential. Our companies share the same customer base and we believe that Gary Player Golf will be able to achieve greater sales and a wider distribution for the Purestroke(TM) line without adding significantly to our overall costs of operation."

In commenting on the transaction, Rich Plante, Chief Executive Officer of Pureflight, stated, "This transaction allows the Purestroke(TM) putter line to achieve its enormous potential with golfers and top Tour Players world-wide. We have had a longstanding relationship with Mr. Player and have always been pleased with his sincere endorsement of the Purestroke(TM) line and his Purestroke Black Knight(R) blade model." On January 29, 2000, Gary Player won the 2000 Senior Skins Game in Hawaii with the Black Knight(R) model putter. The Black Knight(R) model is one of 5 high-quality 100% milled putters marketed during 2000 and join 4 new equally impressive models introduced at the 2001 PGA show, including a milled long putter.

Gary Player, the most successful international golfer of his
generation, stated the following regarding the transaction, "I am very pleased with the acquisition of Pureflight Golf and the
Purestroke Tour Series Putters(TM). I am impressed with Pureflight's attention to quality, detail and design with their
replication of my Black Knight(R) putter that I had played with for the past five decades. Quite simply, the Purestroke Tour Series Putters(TM) are the finest putting instruments in golf, and now they will be offered to our customers as a part of our line of products."

Completion of the acquisition is subject to the Company's due
diligence review of Pureflight and other conditions, including
execution of definitive agreements.

Gary Player Golf.Com is an international golf company formed
to manufacture, market and distribute premium men's and women's
golf equipment, apparel and accessories principally under the Gary Player and Black Knight(TM) brand through e-commerce, direct response television, direct mail sales and licensing.

Look for Gary Player products on the Company's web site at
www.garyplayergolf.com.

The statements in this press release relating to matters that
are not historical are forward-looking statements which involve
risks and uncertainties including, without limitation, economic
and competitive conditions in the market served by the Company
effecting the demand for the Company's products, product pricing, market acceptance, access to distribution channels, availability of new financing, and other risks detailed from time-to-time in the Company's press releases. These risks could cause actual results to differ materially from those anticipated and described herein.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news