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Callaway Offloads Topgolf Stake In $1.1 Billion Deal To Refocus On Clubs

Callaway has agreed to sell 60% of Topgolf to private-equity firm Leonard Green, valuing the entertainment brand at roughly $1.1 billion and generating about $770 million in net proceeds. CEO Chip Brewer said the move, which also transfers Toptracer, follows a “robust” separation process and lets Callaway—soon to be renamed Callaway Golf Company—pay down debt, repurchase stock, and double down on its core equipment and apparel lines while exiting the range-to-nightlife giant it helped build.