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Callaway Golf completes acquisition; Topgolf has 60 venues aimed at bringing new players to the game

Mar 09, 2021 - The San Diego Union-Tribune
Board and Executive Moves-Mergers and Acquisitions

Callaway Golf wrapped up the all-stock acquisition of flashy driving-range outfit Topgolf International on Monday - adding entertainment venues credited with luring new players to the game to the Carlsbad company's club, ball and apparel portfolio.

The deal, first announced in October, called for Callaway to issue about 90 million of its shares to Topgolf stockholders. The Carlsbad company was an early investor in Topgolf dating back to 2006. It already owned a 14 percent stake in the firm...