Through this transaction, Topgolf Callaway will improve its presence in the off-course golf
market by adding the BigShots brand and certain locations to its portfolio of venues in the United States.
Chip Brewer, president and chief executive officer of Topgolf Callaway Brands, stated that "this acquisition will benefit all three segments of our business
We are essentially purchasing an additional off-course venue and the royalty stream from three franchise venues, i
which includes the option to convert those venues to Toptracer technology in the near future. In addition,
which includes the option to convert those venues to Toptracer technology in the near future. In addition,
we are further building out and strengthening our future venue pipeline, and we are expanding our partnership with Invited,
which is an important partner in the golf equipment and apparel industry. All of this is happening for the price of approximately one Topgolf venue.
The synergies that are linked with our portfolio of brands and its leadership position in the Modern Golf industry are particularly well-exemplified by this transaction.
It is also just the beginning of what is possible when two great brands combine their resources
plus ingenuity to establish programs that support growth and further fuel the momentum in our game. This is very exciting.