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Topgolf Callaway Expands with BigShots Golf Acquisition

Topgolf Callaway Expands with BigShots Golf Acquisition

Key Points:

  • Strategic Expansion: Topgolf Callaway acquires BigShots Golf, bolstering its U.S. venue footprint.
  • Synergistic Alliance: A new partnership with Invited brings Topgolf products to over 140 clubs.
  • Financial Upside: The $29 million deal is set to be accretive for Topgolf Callaway from year one.

Topgolf Callaway Brands Corp. (NYSE: MODG), a leader in modern golf and active lifestyle enterprises, has made a strategic move to broaden its reach within the golf entertainment sector. With a $29 million investment, the company has acquired key assets from Invited, Inc., the premier proprietor of private golf clubs in the United States.

This purchase brings the BigShots Golf brand and select locations under the Topgolf Callaway umbrella, further cementing its status as a frontrunner in the off-course golf domain. The acquired assets consist of one owned venue and three franchise venues, in addition to developmental rights for future sites.

Simultaneous to this acquisition, Topgolf Callaway has also inked a preferred vendor agreement with Invited. This partnership ensures that Topgolf Callaway’s products and merchandise will be featured prominently across Invited’s extensive network of more than 140 golf and country clubs.

The Company anticipates that this acquisition will immediately contribute to its financial health and scale its economic impact moving forward. The dual nature of the transaction is seen as beneficial, bolstering both the financial and strategic positioning of the involved parties.

Chip Brewer, the President and CEO of Topgolf Callaway Brands, expressed enthusiasm about the multi-faceted benefits of the acquisition. The deal not only adds to their off-course venue count and royalty streams but also enhances their future venue pipeline and strengthens their partnership with Invited. Brewer sees this as a prime example of the synergistic potential within their brand portfolio and a testament to their leadership in modern golf. He hints at the acquisition being a precursor to even more collaborative and creative efforts aimed at fostering growth in the golf industry.

Topgolf Callaway Brands, listed on the New York Stock Exchange under MODG, is known for its innovative approach to golf, integrating technology and lifestyle to offer top-tier golf equipment, apparel, and entertainment. The company’s brand family includes well-known names such as Topgolf, Callaway Golf, and TravisMathew.

Invited, with a rich history dating back to 1957, is headquartered in Dallas and stands as the largest owner and operator of private golf and country clubs in North America. With a mission to create exceptional experiences and forge lasting connections, Invited operates a vast array of facilities catering to the lifestyle and leisure needs of over 400,000 members.

Chip Greenway, an ardent golf enthusiast and writer, brings a unique and knowledgeable perspective to golf journalism. His profound passion for golf, rooted in his childhood, has shaped his distinct fan-based approach, evident in his engaging and detailed writings. Through "Greenway’s Fairway," his blog, Chip delivers heartfelt stories and analyses, blending his personal playing experiences with the sport's rich history and spirit. His contributions extend beyond journalism, as he actively promotes golf's camaraderie and cultural significance within his local community. EMAIL: Quote from Chip Greenway "Golf is more than a game; it's a culture and a community, and through my writing, I aim to capture its spirit and celebrate its rich history with fellow enthusiasts."

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