Topgolf was a big duff for Callaway. On Tuesday, the golf giant announced it had agreed to sell a 60% stake in the popular driving-range-slash-golf-simulator-slash-brewpub brand to LA-based private equity firm Leonard Green. The deal values Topgolf at $1.1 billion, roughly half of what Callaway paid for the brand in 2020. So how could something so beloved by bachelor parties be such a business bogey? SUBSCRIBE:  Receive more of our free The Daily Upside newsletter. READ ALSO: With AI Bases Loaded, Nvidia ...

After nearly five years of pain for investors, Callaway is selling off control of Topgolf to private equity — and at a significantly discounted valuation than when it was purchased. ...

You can find original article here Nrn. Subscribe to our free daily Nrn newsletters. Topgolf Callaway Brands is selling a majority stake of its Topgolf brand to private equity firm Leonard Green for approximately $1.1 billion. The parent company will retain a 40% stake in the eatertainment concept while shifting most of its focus to its equipment and apparel business.This news comes as Topgolf has experienced a significant downturn as consumers pull back on their discretionary spending. Same-venue sales h ...

交易概述 - Topgolf Callaway Brands Corp 签署最终协议，将其Topgolf和Toptracer业务的60%股权出售给Leonard Green & Partners管理的私募基金 [1] - 该交易对Topgolf业务的估值约为11亿美元 [1] - Topgolf Callaway Brands预计将获得约7.7亿美元的净收益 [1] 交易细节与战略意图 - 公司总裁兼首席执行官Chip Brewer表示，在评估了包括分拆在内的多种方案后，认为此次出售对股东、员工及其他利益相关者是最佳结果 [2] - 交易使公司获得大量收益，并保留在Topgolf未来增长中的可观上升空间 [2] - LGP被描述为在投资高增长消费公司方面有成功记录的领先私募股权公司，是Topgolf下一阶段发展的理想合作伙伴 [2] - 交易支持公司聚焦于领先的高尔夫装备与积极生活方式平台的战略 [2] - 交易完成后，持续经营的品牌组合将包括Callaway、Odyssey、TravisMathew和Ogio，这些业务在过去十二个月（截至2025年第三季度）产生了约20亿美元的收入 [2] 交易后资本配置与公司变更 - 交易完成后，持续经营业务将资本充足，使公司能够继续对业务进行再投资、偿还债务并通过股票回购或其他方式向股东返还大量资本 [2] - 公司计划在交易完成后更名为Callaway Golf Company，并将其股票代码更新为CALY，继续在纽约证券交易所交易 [3] 交易时间线与顾问信息 - 交易预计将于2026年第一季度完成，需满足某些监管批准和惯例成交条件 [2] - 公司的财务顾问为Goldman Sachs & Co. LLC和Centerview Partners，法律顾问为Latham & Watkins LLP [3] - LGP的财务顾问为Moelis & Company LLC，公司法律顾问为Ropes & Gray LLP，融资法律顾问为Sidley Austin LLP [4]