Grant

Such a weird time to be alive.. Absolutely insane amount of changes on the horizon.. we're living in the very final days of everything we've ever known.

TOPGOLF SELLS DRIVING RANGE BUSINESS FOR $1.1B TO PE Topgolf Callaway (ticker MODG) just announced it’s selling 60% stake in its Topgolf unit to Leonard Green in order to focus on equipment and apparel. The company is expecting $770M in net proceeds valuing the company at $1.1B, approximately 0.61x TTM revenue of the TopGolf business unit. MODG announced in 24Q3 its intent to separate the golf equipment and active lifestyle business from its pure-play venue-based golf entertainment business. MODG’s pure-play business expanded from 166% from $1.1B to $1.8B in the last four years while equipment and lifestyle increased 19% from $2B to $2.4B. Brands across the consumer industry are focusing their attention on health and wellness. This marks another major acquisition in the golf space by private equity, following L.A.B Golf’s sale to L-Catterton for over $200M in July. Topgolf Callaway will change its name to Callaway Golf Company and update its ticker to CALY