Deals
Callaway to Buy the Rest of Driving-Range Chain Topgolf
- ‘We have thoughts about being the Peloton of golf,’ CEO says
- Deal values closely held Topgolf at about $2 billion
Photographer: Anna Webber/Getty Images
Callaway Golf Co. plans to buy the remainder of driving-range chain Topgolf Entertainment Group, providing the golf-club giant with a new source of growth.
The deal values closely held Topgolf at about $2 billion, the companies said in a statement after Tuesday’s market close. Callaway, the maker of Big Bertha drivers and other equipment, already owns 14% of Topgolf. The Wall Street Journal reported earlier Tuesday that the acquisition was in the works.