Topgolf Callaway acquires BigShots Golf assets from Invited

Topgolf Callaway has purchased certain assets from Invited, the largest owner and operator of private golf clubs in the US, related to its BigShots Golf business. The acquired BigShots’ portfolio includes four domestic venues, comprised of one owned venue and three franchise venues, as well as certain other development rights for other potential venues. Concurrent with this transaction, the company has also entered into a preferred vendor agreement with Invited in which Topgolf Callaway Brands’ products and merchandise will be featured at Invited’s more than 140 golf and country clubs. The purchase price for the initial closing is approximately $29M. The company expects the acquisition to be nominally accretive in its first year and contribute to scaling economics thereafter.