Time: 2024-09-05
The golf coupling between Topgolf and Callaway is approach to an end as the Carlsbad , Calif.-based Topgolf Callaway Brands Corp. plan to split its business into two mugwump company . The amalgamation in 2021 bring together Callaway , establish in California , and Topgolf , establish in Dallas.
Topgolf is know for its golf - establish entertainment and is expect to continue as a high - quality , free cash flow generate business with significant future value creation opportunity , harmonize to Chip Brewer , president and chief_executive_officer of Topgolf Callaway Brands . The transformation of the game of golf by Topgolf is project to bring significant fiscal tax_return over time.
Artie Starrs , CEO of Topgolf , will continue to lead the newly form company . Starrs , who join the company in 2021 , is establish in Dallas . The target completion for the separation is set for the second one-half of 2025 , pending customary approvals.
The amalgamation aim to attract not - golfer to Topgolf 's entertainment venue and introduce them to the wide game . The rationale for the separation include enhance strategic focus , optimize capital allotment , simplify operate structure , and distinct investing thesis for each company.
As part of the separation procedure , Topgolf and Callaway are expect to enter into ongoing , value - make commercial agreement . Callaway will stay the exclusive golf equipment spouse for Topgolf , guarantee a continue partnership between the two companies.
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