After a positive vote by shareholders of each company this week, the previously proposed merger of Callaway and Topgolf has been approved.
The result will be the alignment of two companies who have strong positions in the global golf market, Callaway for equipment and soft goods, and Topgolf for golf-related entreatment through there many modern “ranges” throughout the world.
Callaway previously held a strong position in Topgolf (14%) but this week’s news will mean their objectives and business decisions can be fully aligned, leading to some interesting possibilities.
“Callaway and Topgolf are just better together,” said Chip Brewer, President and Chief Executive Officer of Callaway. “Callaway’s leadership in the global golf equipment market and geographic diversity, combined with Topgolf’s revolutionary technology platform and access to golfers of all abilities, will allow both companies to accelerate growth and create competitive advantages. This transformational merger has already created and will continue to create meaningful shareholder value. We are very excited to begin this next chapter and I cannot wait to see what we can accomplish together.”
Erik Anderson, Executive Chairman of Topgolf, added, “I am tremendously proud of everything we’ve achieved at Topgolf since our founding in 2000. Our dedicated team of associates, groundbreaking Toptracer technology, and proprietary venues and media platforms have transformed the intersection of sports and entertainment. Together with Callaway, Topgolf has the opportunity to build upon its rapid growth story, bring the Topgolf experience to new communities and advance our mission of making golf a more inclusive and accessible game.”
The combined company will be headquartered at Callaway offices in Carlsbad, California, but Topgolf will continue operate out of their current location in Dallas, Texas.
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