Callaway golf is reversing course on it’s Topgolf acquisition, โขannouncing plans to sell off a โฃ60% stake and revert its corporate name to Callaway โขGolf Company. The move signals a meaningful shift in strategy after a โnearly four-year experiment integrating the golf equipment manufacturerโ with the entertainmentโค venue.
The decision comes as Callaway seeks to refocus on its core golf business. The company will change its โขstock ticker symbol back toโ “CALY” upon completion of the sale. Callaway initially merged with Topgolf in March 2021 and rebranded as Topgolf Callawayโข brands โCorp. in September 2022. This restructuring effectively unwinds โmuch โof that integration, acknowledging the challenges of combining the two distinct businesses.
Callaway Golf Company announced theโ plans โขon November 18, 2024, outlining the โsale of a โข60% ownership โinterest in topgolf to an affiliate of CounterPoint Global. The transaction is expected to close in the first quarter of 2025. Theโ company stated the move will allowโค itโ toโค prioritize its golf equipment, apparel, and ball businesses, โฃwhile alsoโ reducing debt.
