Adidas has sold the Greg Norman Collection (GNC), the golf apparel operation that came with its recent acquisition of Reebok International, to MacGregor Golf, the golf equipment company. Adidas, which said that GNC wasn’t fitting into its overall golf scheme, will hold on to the Greg Norman Collection retail chain, while continuing to develop golf clothing under the Adidas brand name.

Greg Norman, the 30-year-old professional golfer from Australia, owns a large stake in GNC, and along with Barry Schneider, chief executive of MacGregor, will own a controlling interest of the new entity, which will be operating on a consolidated basis, generating annual sales of more than $150 million. Norman will serve on MacGregor’s board of directors and will be active in the company’s sales and marketing, product development and distribution outside the USA.

The biggest potential synergy between the two businesses probably lies in Asia, where GNC could use MacGregor’s operations to expand into the key Japanese and South Korean markets.