Callaway golf is reversing course on it’s Topgolf acquisition, announcing plans to sell off a 60% stake and revert its corporate name to Callaway Golf Company. The move signals a meaningful shift in strategy after a nearly four-year experiment integrating the golf equipment manufacturer with the entertainment venue.
The decision comes as Callaway seeks to refocus on its core golf business. The company will change its stock ticker symbol back to “CALY” upon completion of the sale. Callaway initially merged with Topgolf in March 2021 and rebranded as Topgolf Callaway brands Corp. in September 2022. This restructuring effectively unwinds much of that integration, acknowledging the challenges of combining the two distinct businesses.
Callaway Golf Company announced the plans on November 18, 2024, outlining the sale of a 60% ownership interest in topgolf to an affiliate of CounterPoint Global. The transaction is expected to close in the first quarter of 2025. The company stated the move will allow it to prioritize its golf equipment, apparel, and ball businesses, while also reducing debt.