Cloaca du jour 2,150 Posted March 22, 2024 https://golf.com/gear/callaway-responds-report-potential-sale/?amp=1 One of the leading golf-equipment manufacturers could be for sale, according to a report from South Korea’s Chosun Daily. According to the report, Topgolf Callaway‘s major shareholders, which include BlackRock, Providence Equity and Carolina Hurricanes owner Thomas Dundon, have tapped a lead manager to investigate the possibility of spinning off the Callaway Golf equipment and hard-goods business to focus solely on its high-tech Topgolf driving ranges. The news outlet reported that Callaway would be valued at nearly $3 billion, and that a South Korean “strategic investor is reportedly in the running to acquire the company.” To put the reported value into perspective, Korea-based Centroid Investment Partners acquired TaylorMade Golf from New York-based KPS Capital Partners in 2021 for $1.7 billion — a number that remains the largest acquisition in the history of the golf-equipment industry Share this post Link to post Share on other sites
