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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 stands out in golf journalism with his passionate and knowledgeable perspective as a self-taught, part-time writer and full-time fan. His journey with golf started in childhood, leading to a deep passion that now fuels his unique fan-based approach to reporting on the sport. From his blog "Greenway’s Fairway," Chip offers detailed, heartfelt stories and analyses that resonate with golf enthusiasts, celebrating the sport's history and spirit. His articles, infused with his own playing experiences, are vivid and engaging, capturing the essence of golf beyond just the technicalities. Chip also contributes to his local golf community, promoting the sport's camaraderie. His work not only enriches golf journalism but also inspires a deeper appreciation of the game's cultural significance. 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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