Topgolf Callaway in talks to sell Topgolf unit in $1B deal, WSJ says

Topgolf Callaway (MODG) Brands is in talks to sell its Topgolf unit to private-equity firm Leonard Green, which had already taken a small stake in Topgolf and had shared its feedback on the business with management, people familiar with the matter told The Wall Street Journal’s Jennifer Williams, Miriam Gottfried and Lauren Thomas. A deal, which would value the operator of recreational driving ranges at about $1B, could come together soon, though it is also possible the discussions won’t result in a transaction, the report’s sources said.