Core Viewpoint - Topgolf Callaway Brands has signed a definitive agreement to sell a 60% stake in its Topgolf and Toptracer business to Leonard Green & Partners, valuing Topgolf at approximately $1.1 billion, with the company expecting to receive around $770 million in net proceeds from the transaction [1][2]. Group 1: Transaction Details - The transaction involves Leonard Green & Partners acquiring a 60% interest in Topgolf, while Topgolf Callaway Brands retains a 40% stake [1]. - The deal is expected to close in the first quarter of 2026, pending regulatory approvals and customary closing conditions [2]. - The transaction has been unanimously approved by the Board of Directors of Topgolf Callaway Brands [2]. Group 2: Strategic Implications - The sale is viewed as a strategic move to focus on the company's leading Golf Equipment & Active Lifestyle platform, which includes brands such as Callaway, Odyssey, TravisMathew, and Ogio, generating approximately $2 billion in revenue over the last twelve months [2]. - Post-transaction, the company plans to reinvest in its businesses, pay down debt, and return capital to shareholders through stock repurchases or other means [2]. Group 3: Company Rebranding - Following the completion of the transaction, the company intends to change its name to Callaway Golf Company and update its ticker symbol to CALY, while continuing to trade on the New York Stock Exchange [3]. Group 4: Financial Advisors - Goldman Sachs & Co. LLC and Centerview Partners are serving as financial advisors to Topgolf Callaway Brands, while Moelis & Company LLC is advising Leonard Green & Partners [4][3].