Topgolf Callaway Brands

Corporate Headquarters: Carlsbad, California

Website: https://www.topgolfcallawaybrands.com/

Additional Websites: https://www.callawaygolf.com/, https://topgolf.com/us/, https://odyssey.callawaygolf.com/, https://www.travismathew.com/

Category: Portfolio Companies

LEADERSHIP

Chip (Oliver G.) Brewer III, President & CEO

Mark Leposky, EVP, Global Operations

Glenn Hickey, EVP, Callaway Golf

Artie Starrs, Topgolf CEO

Chris Callaway, Topgolf Chief Development Officer

Geoff Cottrill, Topgolf Chief Marketing Officer

Joe Flannery, EVP, Apparel and Soft Goods

Sean Toulon, SVP, Callaway Golf and GM Odyssey Brand

Ryan Ellis, CEO, TravisMathew

 

 

Company Overview

Topgolf Callaway Brands Corp. is a tech-enabled Modern Golf and active lifestyle company with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, Jack Wolfskin, and World Golf Tour (WGT). The company represents the convergence of traditional golf equipment manufacturing with modern golf entertainment and technology.

Following a strategic review, the company announced plans to separate into two independent entities through a spinoff of at least 80.1% of the Topgolf business to shareholders. The separation, projected for the second half of 2025, aims to better position both companies for success due to their different operating models, capital structures, and investment propositions. Post-separation, Callaway will retain the existing financial debt and consist of the golf equipment and active lifestyle businesses, plus Toptracer.

Topgolf will operate debt-free with a significant cash balance, focusing on its entertainment venues and technology platforms.

Strategic Vision

As articulated by CEO Chip Brewer: “Our long-term strategic path forward emphasizes our unique and dominant leadership in the Modern Golf space. While anchored in our strong heritage business, we continue to build important awareness for our strategic shift towards exciting new ventures in the Modern Golf and active lifestyle segments.”

Topgolf Callaway Key Facts:

• Operates over 100 Topgolf venues globally
• Generated approximately $2.5 billion in revenue from golf equipment business
• Topgolf entertainment venues generated roughly $1.8 billion in revenue
• Leading manufacturer of golf equipment and accessories
• Pioneering golf entertainment through technology-enabled venues
• Employs thousands across its various brands and venues

Business Model Innovation

The company operates through multiple revenue streams:

• Traditional Golf Equipment: Premium clubs, balls, and accessories under Callaway and Odyssey brands
• Golf Entertainment: Tech-enabled Topgolf venues combining gaming, food & beverage, and social experiences
• Lifestyle Brands: Active wear and accessories through TravisMathew, Jack Wolfskin, and OGIO
• Technology Solutions: Toptracer ball-tracking technology and WGT digital gaming platform

Growth and Development

The company has transformed from a traditional golf equipment manufacturer to a comprehensive golf and lifestyle brand through strategic acquisitions and innovations:

• Merger with Topgolf in 2021
• Expansion of Topgolf venues globally
• Integration of Toptracer technology
• Development of digital gaming platforms
• Growth of lifestyle apparel brands

Commitment to Modern Golf

Topgolf Callaway Brands is focused on making golf more accessible and enjoyable through multiple channels:

• Traditional Golf: Premium equipment for serious players
• Entertainment: Casual introduction to golf through Topgolf venues
• Digital Engagement: Virtual gaming and online experiences
• Technology Integration: Advanced tracking and training tools
• Lifestyle Products: Golf-inspired apparel and accessories

Future Plans

The company continues to invest in innovation while maintaining its position in traditional golf markets. Focus areas include:

• Global expansion of Topgolf venues
• Enhancement of technology platforms
• Development of new equipment technologies
• Growth of lifestyle brand portfolio
• Digital gaming and virtual experiences

KEY FACTS FOR OTHER COMPANIES WITHIN THE PORTFOLIO

Callaway Golf:

• One of the world’s largest golf equipment manufacturers
• Known for innovative technologies like AI-designed club faces
• Market leader in golf clubs, particularly drivers and irons
• Significant presence in golf ball market
• Products used by top professional golfers worldwide

TravisMathew:

• Premium lifestyle and performance apparel brand
• Rapidly growing presence in golf and active lifestyle segments
• Popular among both professional athletes and casual consumers
• Expanded from golf wear into lifestyle and fitness apparel
• Strong retail presence with standalone stores nationwide

Odyssey:

• #1 putter brand in golf
• Used by professional golfers across all major tours
• Known for innovative insert technologies
• Market leader in premium putter segment
• Consistently top-performing brand in golf specialty retail

Toptracer:

• Ball-tracking and gaming technology used in Topgolf venues
• Installed at over 700 driving ranges worldwide
• Powers broadcast graphics for professional golf tournaments
• Enables virtual golf experiences and games
• Growing adoption in traditional driving ranges and practice facilities

KEY TAKEAWAYS

Despite the pending separation, Topgolf Callaway Brands represents the evolution of golf from a traditional sport to a modern, tech-enabled lifestyle activity. Through its diverse portfolio of brands and services, the company is uniquely positioned to serve both traditional golfers and new audiences discovering the game through entertainment venues and digital platforms. The company’s mission is to be the global leader in modern golf, helping the game’s continued evolution by making it more accessible and enjoyable for everyone.