Topgolf Callaway Brands Sells 60% Stake in Topgolf to Leonard Green & Partners
Reuters
Nov 18, 2025
Topgolf Callaway Brands Sells 60% Stake in Topgolf to Leonard Green & Partners
Topgolf Callaway Brands Corp. has reached a definitive agreement to sell a 60% stake in its Topgolf and Toptracer business to private equity funds managed by Leonard Green & Partners, L.P., valuing Topgolf at approximately $1.1 billion. The company will retain a 40% ownership interest and expects to receive around $770 million in net proceeds from the transaction, subject to purchase price adjustments. Upon closing, Topgolf Callaway Brands plans to change its name to Callaway Golf Company and update its NYSE ticker symbol to CALY. The remaining business will focus on its Callaway, Odyssey, TravisMathew, and Ogio brands, and intends to use the proceeds to reinvest, reduce debt, and potentially return capital to shareholders. The transaction is expected to close in the first quarter of 2026.
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