Topgolf Callaway (MODG) Brands announces the successful completion of its sale of a 60% stake in its Topgolf and Toptracer businesses to private equity funds managed by Leonard Green & Partners, effective January 1, 2026. The transaction values Topgolf at approximately $1.1 billion. In connection with the sale and related financing transactions, Topgolf Callaway Brands received approximately $800 million in cash proceeds, net of working capital adjustments and transaction expenses. In connection with the closing, the Company also repaid $1 billion of outstanding borrowings under its term loan B facility.
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