Latham & Watkins Advised Topgolf Callaway Brands In Completed Sale Of Majority Stake In Topgolf Business To Leonard Green & Partners

Latham & Watkins Advised Topgolf Callaway Brands in Completed Sale of Majority Stake in Topgolf Business to Leonard Green & Partners

Latham & Watkins advised Topgolf Callaway Brands Corp. (NYSE: MODG) on the completed sale of a 60% stake in its Topgolf and Toptracer businesses to private equity funds managed by Leonard Green & Partners, L.P., effective January 1, 2026. The transaction values Topgolf at approximately US$1.1 billion.

In connection with the sale and related financing transactions, Topgolf Callaway Brands received approximately US$800 million in cash proceeds, net of working capital adjustments and transaction expenses, and subject to further customary purchase price adjustments.

The Latham & Watkins LLP deal team led by San Diego Craig Garner (Partner), and Kevin Reyes (Partner), and Los Angeles David Zaheer (Partner), with Dylan Towns (Associate), Zach Kobayashi (Associate), and Shelby Harrison (Associate).

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