"This is a classic case of one plus one equaling three," said Doug Stanard, AMF president and chief executive officer. "Ebonite is a great brand and a solid manufacturer. AMF's strengths include a worldwide sales and distribution network and an unequaled bowler base from our more than 525 centers. Bringing AMF's resources and Ebonite's expertise together should make for a very bright future for both brands." AMF currently resells a line of bowling balls under its own brand name.

Bill Scheid, president and chief executive officer of Ebonite, was enthusiastic about the deal: "The exciting combination of the AMF and Ebonite brands, each supported by our newly expanded manufacturing facility and commitment to research and design leadership, will allow us to better serve our customers around the world."

"Our first priority will be to grow both the Ebonite and AMF branded ball and accessories businesses," explained Larry Kind, AMF senior vice president, Bowling Products. "In doing that, we think we can provide expanded career opportunities for many Ebonite employees. Ebonite's expertise in consumer products and its relationships with distributors and pro shops give AMF an advantage we were looking for. Ebonite's existing international distribution adds to our global presence and market share of consumer products."

"With our bowling center base, we have a window on bowlers at all levels of the sport," continued Kind. "We believe this provides a unique opportunity to build programs for AMF and Ebonite that will further expand our market presence and strengthen our market leadership position."

The transaction is subject to completion of a definitive purchase agreement and normal closing conditions. The acquisition is expected to close during the third quarter of 1998. Financial terms were not disclosed.