{"id":294921,"date":"2025-11-19T13:32:09","date_gmt":"2025-11-19T13:32:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/294921\/"},"modified":"2025-11-19T13:32:09","modified_gmt":"2025-11-19T13:32:09","slug":"callaway-sells-topgolf-to-private-equity-firm-in-1-1bn-deal","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/294921\/","title":{"rendered":"Callaway Sells Topgolf To Private Equity Firm In $1.1bn Deal"},"content":{"rendered":"

Callaway is set to sell its majority stake in tech-driven driving range company Topgolf to private equity firm Leonard Green Partners in a deal worth $1.1bn.<\/p>\n

The first Topgolf facility opened in Watford near London, England, in 2000. Since then, it has expanded to over 100 locations worldwide.<\/p>\n

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Callaway first bought a stake in the company in 2006, with the companies signing off on a $2bn merger in March 2021.<\/p>\n

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However, in September 2024, Callaway Topgolf Brands announced a separation of the two companies<\/a> into individual entities following a \u201cstrategic review,\u201d with the possibility of Topgolf being sold off not being ruled out.<\/p>\n

At the time of the announcement, Topgolf Callaway Brands president and CEO Chip Brewer explained in a statement that it was being done because \u201cTopgolf has a different operating model, capital structure and investment thesis than Callaway.”<\/p>\n

However, against the backdrop of a fall in the stock price and a drop in Topgolf’s venue sales, he hinted at a possible sale of the company in the future, adding: \u201cIf there is an identified and actionable path that could include a sale or another path that is more attractive for shareholders, we will obviously explore that path.\u201d<\/p>\n

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\"A\n<\/p>\n

Topgolf offers a tech-based driving range experience <\/p>\n

(Image credit: Getty Images)<\/p>\n

Now, 14 months later, the sale is going ahead, with Leonard Green Partners agreeing to acquire 60% of Topgolf.<\/p>\n

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The LA-based private equity company already held a 3% stake in Topgolf Callaway Brands, and Brewer said the sale represents the \u201cbest outcome.\u201d<\/p>\n

He said in a statement: \u201cAfter a robust process and a thorough evaluation of a range of alternatives, we believe this sale is the best outcome for our shareholders, as well as our employees and other stakeholders.<\/p>\n

“This transaction is highly attractive in that it provides the Company with both significant proceeds and substantial upside in the continued growth of Topgolf.”<\/p>\n

The deal, which includes Callaway\u2019s Toptracer unit, will benefit Topgolf Callaway to the tune of $770m, with plans to use the funds to reduce debt and buy back shares.<\/p>\n

It is anticipated the sale will be completed in the first quarter of 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"Callaway is set to sell its majority stake in tech-driven driving range company Topgolf to private equity firm…\n","protected":false},"author":2,"featured_media":294922,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[566],"tags":[64,63,755,85],"class_list":{"0":"post-294921","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-golf","8":"tag-au","9":"tag-australia","10":"tag-golf","11":"tag-sports"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/294921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=294921"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/294921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/294922"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=294921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=294921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=294921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}