DALTON, Ga.—SportGroup Holding GmbH, Burgheim, Germany-based manufacturer of artificial turf, sports surfaces and running tracks, has agreed to purchase AstroTurf and SYNLawn for $92.5 million.
The June 28 announcement of the purchase coincided with AstroTurf's filing for Chapter 11 reorganization before the U.S. Bankruptcy Court for the Northern District of Georgia.
In its motion before the court, AstroTurf noted that in October 2015 it had lost a $30 million patent infringement judgment against FieldTurf USA Inc. and FieldTurf Tarkett Inc. before the Eastern Michigan federal district court.
“After evaluating its alternatives, and in light of the uncertainty and instability caused by the patent litigation, the debtor has determined that a sale of substantially all of its assets … would result in the best recovery for its stakeholders,” read the motion signed by Sean M. Harding, AstroTurf's chief restructuring officer.
The AstroTurf purchase gives SportGroup direct access for the first time to North American athletic turf customers, according to a SportGroup news release.
Heard Smith, chief operating officer for AstroTurf and SYNLawn, said his company is eager to join SportGroup's stable of products.
“The union of these brands ushers in the next era of sophisticated sports surfacing for today's highly trained athletes,” Smith said.
AstroTurf sports surfacing and SYNLawn landscaping turf will continue to be manufactured in the U.S., and all current employees will remain with the organization, SportGroup said.