Nov. 14 at 5:07 PM
Topgolf Callaway Brands’ shares rose Friday after a Wall Street Journal report said the company is in talks to sell its Topgolf unit to private-equity firm Leonard Green. The deal could value the recreational driving-range business at about
$1 billion, according to people familiar with the matter, compared with the company’s roughly
$2 billion market cap as of Thursday. While a transaction could be finalized soon, the talks may still fall apart. Leonard Green, which already holds a small stake, has previously offered input to management. Topgolf has been a key part of the business since the 2021 merger, operating entertainment venues that blend golf with food and social activities. The potential divestiture comes as the company looks to streamline operations amid a challenging leisure environment.
$MODG