Callaway Sells Majority Stake in Topgolf Driving‑Range Business to Leonard Green

Callaway Golf Company, operating under the name Topgolf Callaway Brands, announced the sale of a 60 % stake in its unit that includes Topgolf and its shot‑tracking technology arm Toptracer to private‑equity firm Leonard Green & Partners. The deal values the driving‑range business at approximately US $1.1 billion, roughly half the price Callaway paid when it fully acquired Topgolf in 2021. Under the terms of the transaction, Callaway expects to receive about US $770 million in net proceeds from the sale. These funds will be allocated toward paying down debt and buying back shares, as the company aims to strengthen its balance sheet. Callaway had acquired Topgolf in 2021 during the pandemic‑fueled boom in golf and entertainment venues, valuing the acquisition near US $2 billion at the time. However, the business encountered headwinds: rising interest rates, cost pressures in building new Topgolf venues, and weaker traffic at existing locations. As a result, the share price of the combined entity dropped significantly from its post‑merger highs. Moving forward, once the deal closes (expected in the first quarter of fiscal 2026), Callaway will revert to its former name, Callaway Golf Company, and shift focus back more toward its core golf equipment and apparel business. Callaway CEO Chip Brewer described the transaction as “the best outcome for our shareholders … as well as our employees and other stakeholders,” noting that the sale allows the company to retain exposure to Topgolf’s future upside while improving its financial flexibility. #TopgolfSale #CallawayGolf #LeonardGreen #GolfEntertainment #SlimScan #GrowthStocks #CANSLIM