Golf-equipment maker Topgolf Callaway Brands agreed to sell a majority stake in its Topgolf unit to private equity firm Leonard Green on Tuesday, valuing the business at $1.1 billion and marking an end to the partnership roughly five years after a merger.
Golf-equipment maker Topgolf Callaway Brands is in talks to sell its Topgolf unit to private equity firm Leonard Green in a deal that could value the business at about $1 billion, a source familiar with the matter told Reuters.
Harley-Davidson said on Monday Topgolf's Arthur Starrs would succeed Jochen Zeitz as CEO, to help steer the storied motorcycle maker through U.S. tariffs and slowing demand for its cruiser bikes.
About Topgolf Callaway Brands Corp (MODG.N)
Company Information
Topgolf Callaway Brands Corp. is a tech-enabled golf and active lifestyle company. The Company is engaged in delivering golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Odyssey and OGIO. The Company provides golf entertainment experiences, designs and manufactures golf equipment, and sells golf and active lifestyle apparel and other accessories through its family of brand names. Its segments include Topgolf, Golf Equipment, and Active Lifestyle. The Topgolf segment includes the operations of its Company-owned and operated and franchised Topgolf venues and Toptracer ball-flight tracking technology (Toptracer). The Golf Equipment segment includes the operations of its golf clubs and golf balls business under the Callaway Golf and Odyssey brand names. The Active Lifestyle segment includes the operations of its soft goods business marketed under the Callaway Golf, TravisMathew, and OGIO brand names.
Industry
Sporting & Outdoor Goods
Executive Leadership
- John F. Lundgren
- Independent Chairman of the Board
- Oliver G. Brewer
- President, Chief Executive Officer, Director
- Erik J. Anderson
- Independent Vice Chairman of the Board
- Brian P. Lynch
- Executive Vice President and Chief Financial Officer and Chief Legal Officer
- Glenn F. Hickey
- Executive Vice President and President - Callaway Golf
- Mark F. Leposky
- Executive Vice President and Chief Supply Chain Officer
- Russell L. Fleischer
- Independent Director
- Bavan M. Holloway
- Independent Director
- Adebayo O. Ogunlesi
- Independent Director
- Varsha Rajendra Rao
- Independent Director
- Linda B. Segre
- Independent Director
- Anthony S. Thornley
- Independent Director
- C. Matthew Turney
- Independent Director
Financials
Income Statement
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 4239.3 | 4284.8 | 3995.7 |
| Gross Profit | 2650.9 | 2654.1 | 2411.1 |
| Net Income | -1447.7 | 95 | 157.9 |
2024 (millions USD)
Balance Sheet
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | 7636.1 | 9120.6 | 8590.4 |
| Total Debt | 2997.7 | 2859.4 | 2297.4 |
| Total Liabilities | 5228.4 | 5242.4 | 4816.1 |
2024 (millions USD)
Cash Flow
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash from Operating Activities | 382 | 364.7 | -35.1 |
| Financing Cash Flow Items | -0.2 | -1.8 | -5.8 |
| Cash from Investing Activities | -297.3 | -542.9 | -535.1 |
2024 (millions USD)
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