Swimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…read more
Merger of Callaway Golf Company and Topgolf International completed
Callaway Golf Company and Topgolf International, Inc. have announced that the completion of their merger following approval by shareholders of both companies.
The resultant combined enterprise creates a player unlike any other in the golf industry delivering technology-enabled golf company golf equipment, apparel and entertainment with a value of around US$2.5 billion.
Topgolf is a leading golf entertainment business, with an innovative platform comprised of gold-based social entertainment venues, backed by its Toptracer technology and innovative media platform.
Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle soft goods.
Commenting on the merger, Callaway President and Chief Executive, Chip Brewer stated “Callaway and Topgolf are just better together.
“Callaway’s leadership in the global golf equipment market and geographic diversity, combined with Topgolf’s revolutionary technology platform and access to golfers of all abilities, will allow both companies to accelerate growth and create competitive advantages.
“This transformational merger has already created and will continue to create meaningful shareholder value. We are very excited to begin this next chapter and I cannot wait to see what we can accomplish together.”
Following its several years of rapid growth, Topgolf Executive Chairman, Erik Anderson added “I am tremendously proud of everything we’ve achieved at Topgolf since our founding in 2000.
“Our dedicated team of associates, groundbreaking Toptracer technology, and proprietary venues and media platforms have transformed the intersection of sports and entertainment. Together with Callaway, Topgolf has the opportunity to build upon its rapid growth story, bring the Topgolf experience to new communities and advance our mission of making golf a more inclusive and accessible game.”
Under the terms of the merger agreement, first announced in October last year, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which previously held approximately 14% of Topgolf’s outstanding shares.
Immediately following the merger, Callaway shareholders owned approximately 51.3% and former Topgolf shareholders (excluding Callaway) owned approximately 48.7% of the outstanding shares of the combined company.
Topgolf will continue to operate from its Dallas, Texas, USA headquarters, while the combined company’s board will consist of 13 directors including three appointed by Topgolf shareholders.
Lower image shows Topgolf on the Gold Coast.
13th March 2021 - Golf Australia highlight golf’s summer boom
12th March 2021 - New indoor golf centre opens in Perth
9th March 2021 - Torquay golf resort sold for $12.8 million
24th February 2021 - SPORTFIVE launches new global golf strategy
21st January 2021 - Holey Moley mini golf concept set for Australian television debut
16th December 2020 - Golf Australia announces major partnership with Apia
13th October 2020 - Demographic shift marks the rise of Social Entertainment Centres
25th November 2020 - Golf Australia reports boom in club membership
29th October 2020 - World Golf Awards name Australia as world’s best golf destination
16th October 2020 - Australian golf industry announces cancellation of its major golf events
14th July 2020 - X-Golf facilities create inaugural virtual golf tournament
22nd May 2020 - Vietnamese clubs set out golfing route to recovery
30th July 2018 - Clark Kirby outlines vision for Topgolf’s Australian expansion
15th June 2018 - Australia’s first Topgolf Venue opens on the Gold Coast
18th December 2017 - Topgolf global expansion to continue with new Dubai venue
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