Topgolf Callaway acquires BigShots Golf for ~$29M; strengthens off-course golf leadership

Callaway Golf Co

Acquired BigShots Golf from Invited for ~$29M; includes 1 owned venue, 3 franchise venues, and development rights.
Entered preferred vendor agreement for Topgolf Callaway products at Invited's 140+ golf and country clubs.
Acquisition expected nominally accretive in first year; CEO says price equivalent to one Topgolf venue.
Option to convert franchise venues to Toptracer technology; expands future venue pipeline.

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