Sports giant Adidas has completed the sale of the Greg Norman Collection (GNC) apparel business to the MacGregor Golf Company.

The transaction, financial details of which are not being disclosed, excludes existing GNC-related retail outlet operations. The Greg Norman Collection business reported sales of about EUR55m (70.86m) in 2005.

New York-based GNC, a worldwide marketer and distributor of men's sportswear, golf apparel and accessories, will be operated as a separate business unit to MacGregor.

"This acquisition is very strategic. It provides product diversity around a common base of customers and consumers," said Barry Schneider, CEO and majority shareholder of MacGregor.

"It adds scale to our business which is important in a consolidating industry. And it leverages our international infrastructure, particularly in Asia, to aggressively grow Greg Norman Collection globally."

Greg Norman president and CEO Suzy Biszantz added: "While we have experienced tremendous growth over the past four years, I believe we still have significant opportunities in all distribution channels.

"I look forward to continued growth under MacGregor Golf, especially in Japan and Korea where they are exceptionally strong."