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The Associated Press March 10, 2010, 10:30AM ET

Puma acquires Cobra Golf

German sportswear company Puma AG says it will acquire Cobra Golf, based in Carlsbad, California, from Fortune Brands Inc.

Herzogenaurach-based Puma said Wednesday it will acquire 100 percent of Cobra Golf, but did not provide any financial details. The deal which faces regulatory approval is expected to close in the second quarter.

Cobra is part of Acushnet Company, which is part of Fortune Brands, based in Deerfield, Illinois.

Puma is majority held by French luxury goods company PPR SA.


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