Topgolf Callaway in talks to sell Topgolf unit for about $1 billion, WSJ reports

Callaway Golf

14/11/2025 16:36

Nov 14 (Reuters) - Golf-equipment maker Topgolf Callaway Brands MODG.N 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, the Wall Street Journal reported on Friday, citing people familiar with the matter.

    Shares of the Carlsbad, California-based company rose 6% on Friday after the report came out.

Los Angeles-based Leonard Green, which already holds a minority stake in Topgolf, has reportedly shared feedback with the company's management about the business.

Topgolf Callaway and Leonard Green did not immediately respond to a Reuters request for comment.

Formed in 2021 through the merger of Callaway Golf and Topgolf, the company announced in September 2024 that it would split its two divisions to maximize shareholder value.

The move followed a steep 73% decline in the company’s shares from their 2021 post-merger highs, driven by investor concerns leading up to last year’s announcement.

Leonard Green, which manages $75 billion in assets, according to its website, has a diverse portfolio spanning consumer, healthcare, and business services sectors.

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 (Reporting by Prerna Bedi in Bengaluru; Editing by Tasim Zahid)

 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616))