Topgolf Callaway intends to split up the company.

Topgolf Callaway Brands Corp. has announced plans to split into two separate companies. Callaway will focus on golf equipment, while Topgolf will be a venue-based golf entertainment business. Callaway generated revenues of approximately $2.5 billion in the last 12 months, while Topgolf generated revenues of approximately $1.8 billion. The parent company intends to spin off the Topgolf business to its shareholders, with the transaction expected to be tax-free. The company believes that creating two separate companies will enhance strategic focus, optimize capital allocation, improve execution, and provide distinct investment opportunities for shareholders. Detailed separation plans are being developed, with the spinoff expected to occur in the second half of 2025. [Extracted from the article]