Topgolf Callaway Brands To Sell 60% Stake In Topgolf, Valued At $1.1 Billion

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(RTTNews) - Topgolf Callaway Brands Corp. (MODG) on Tuesday said it has signed a definitive agreement to sell a 60% stake in its Topgolf and Toptracer business (Topgolf) to private equity funds managed by Leonard Green & Partners, L.P., valuing Topgolf at roughly $1.1 billion. The company expects to receive approximately $770 million in net proceeds from the sale and related financing transactions.

Following the deal, the company's ongoing brand portfolio will include Callaway, Odyssey, TravisMathew, and Ogio, which collectively generated about $2 billion in revenue over the past twelve months through the third quarter of 2025.

"Importantly, this transaction supports our strategy of focusing on our leading Golf Equipment & Active Lifestyle platform," said Chip Brewer, President and Chief Executive Officer of Topgolf Callaway Brands. "After the closing of this transaction, the ongoing business will be well-capitalized, enabling us to continue to reinvest in our businesses, pay down debt and deliver a meaningful return of capital to shareholders via stock repurchases or other means."

The transaction is expected to close in the first quarter of 2026, after which the company will change its name to Callaway Golf Company and update its ticker symbol to CALY, with shares continuing to trade on the New York Stock Exchange.

Topgolf Callaway Brands shares closed Monday's trading at $10.88, down 3.46%.