Topgolf Callaway Brands Corp. has acquired several assets from Dallas company Invited Inc. — the largest owner and operator of private golf clubs in the U.S. — as part of a $29 million deal tied to the latter’s BigShots Golf business.
The transaction adds the BigShots brand and certain locations to Topgolf Callaway Brands’ portfolio of U.S. venues as it looks to expanding its leadership position in off-course golf, according to a news release. Acquired BigShots assets include four domestic venues – one owned venue and three franchise venues – in addition to development rights for other potential venues.
Additionally, Topgolf Callaway Brands entered a preferred vendor agreement with Invited in which Topgolf products and merchandise will be featured at Invited’s more than 140 golf and country clubs.
“This acquisition will benefit all three segments of our business,” Chip Brewer, president and CEO of Topgolf Callaway Brands, said in a prepared statement. “We are essentially purchasing an additional off-course venue and the royalty stream from three franchise venues, including the option to convert those to Toptracer technology in the near future, as well as further building out and strengthening our future venue pipeline and growing our partnership with an important golf equipment and apparel partner, Invited — all for the price of approximately one Topgolf venue.”
Invited was founded as ClubCorp in 1957 and has 400,000 members. It owns properties in Dallas, Plano, Corinth, Brookhaven, Richardson, Irving, Frisco, Southlake, McKinney, Trophy Club and Mansfield.
“This deal is a great example of the synergies associated with our portfolio of brands and its leadership position in modern golf,” Brewer said. “It is also just the beginning of what’s possible when two great brands combine their resources.”
Topgolf Callaway Brands, headquartered in Carlsbad, California, also owns Travis Mathew, Toptracer, Odyssey, OGIO, Jack Wolfskin and World Golf Tour brands.
The company is the result of a combination between Callaway Golf Co. and Topgolf, which maintains base of operations in Dallas, that closed in 2021.