Lee Brice attends the ACM Lifting Lives TOPGOLF Tee-Off at TOPGOLF on April 06, 2019 in Las Vegas, Nevada. Jason Kempin/Getty Images Callaway Golf, the $1.8 billion golf club maker, just bought Topgolf. The deal would value Topgolf at $2 billion, per a release. Topgolf is an entertainment company that operates outdoor and indoor golf…
- Callaway Golf, the $1.8 billion golf club maker, just bought Topgolf. The offer would value Topgolf at $2 billion, per a release
- Topgolf is a home entertainment business that operates outdoor and indoor golf games. The business created $1.1 billion in earnings in 2019 and has grown at a 30%compound yearly rate considering that.
- ” Topgolf is the very best thing that took place to golf because Tiger Woods,” Callaway CEO Chip Maker said in an interview with The Wall Street Journal “It’s going to be the biggest source of new golf players for our industry.”
- Callaway initially bought Topgolf in 2006 for 14%of the business.
- Callaway expects Topgolf to grow significantly after reporting a 233%increase in earnings in the past three years. Topgolf had 23 million overall guests in 2019, with over half of consumers determining as non-golfers.
- ” Millennials desire a parallel experience, and Topgolf is developed on 4 things everyone likes– play, food and beverages, music and neighborhood” Erik Anderson, co-chairman Topgolf Home entertainment Group, told CNBC
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