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WORLDWIDE GOLF MAY ACQUIRE AMERICAN TURF MANUFACTURING
Published December 2, 1994
Worldwide Golf Resources Inc. announced that it has signed a letter of intent to acquire GA-based American Turf Manufacturing, a leading supplier of synthetic turf to the golf industry. Kenneth Maul, Worldwide CEO said the stock-for-stock agreement should be completed by December 15. Maul noted that the acquisition would complement Worldwide's recent acquisition of Golf Auto Tee Inc., a supplier of golf ball teeing machines. Maul: "This acquisition will provide us with an extraordinary cross-marketing opportunity. American Turf will give Golf Auto Tee broad exposure to driving range operators throughout the country. In return, Golf Auto Tee will introduce American Turf to its client base" (Worldwide Golf Resources).