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Srixon set to finalize deal to buy Cleveland Golf

Updated: October 31, 2007, 2:11 PM ET
By E. Michael Johnson | Golf World

The long-rumored sale of Cleveland Golf has come to fruition, although the buyer came out of the dark, with SRI Sports Ltd. (parent of Srixon) landing Cleveland (which was owned by Quiksilver) for $132.5 million, according to a source familiar with the negotiations. The deal is expected to close before Jan. 31, 2008 with net proceeds from the sale being used to pay off debt.

Quiksilver acquired Cleveland in two separate purchases (as part of its acquisition of Rossignol in July, ...

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