Overview
- Topgolf Callaway Brands will retain a 40% stake as funds managed by Leonard Green acquire control, with closing targeted for the first quarter of 2026 pending regulatory approvals.
- Management says proceeds will fund debt reduction, reinvestment in Callaway, Odyssey, TravisMathew and Ogio, and potential shareholder returns.
- The sale includes Toptracer, and Leonard Green has secured debt and equity commitments, so the deal is not subject to financing conditions.
- Upon closing, the public company plans to rename itself Callaway Golf Company and change its NYSE ticker to CALY.
- The $1.1 billion valuation reflects a reset from roughly $2 billion at the 2020–2021 merger as Topgolf’s momentum cooled before recent modest sales improvements.