Ashworth Inc. Announces Acquisition of Sun Ice Trademarks

The purchase price for the trademarks consists primarily of participation in the future EBITDA of Sunice Holdings Inc. Edward J. Fadel, president of Ashworth, Inc. who will oversee all operational aspects of Sunice Holdings Inc., commented on the acquisition, “The recognized strength of the Sun Ice brand in technical outwear complements our existing strength in Ashworth golf-inspired apparel, offering significant cross-selling opportunities and anticipated penetration of new accounts for both brands. The Sun Ice line should also leverage Ashworth’s existing sales and distribution infrastructure by enabling the concurrent marketing of two high-quality, complementary product lines and expanding our overall base of sales.” Allan H. Fletcher, chief executive officer of Ashworth, Inc., commented “The relationships and outerwear expertise acquired in this transaction will also promote improvements to the Callaway Golf apparel outerwear product line and further strengthen the company’s position in the golf market.”