Topgolf Callaway Brands Completes $1.1B Sale to Leonard Green & Partners.

Topgolf Callaway Brands has completed the sale of a 60% stake in its Topgolf business to Leonard Green & Partners for approximately $1.1 billion. The transaction values Topgolf at $1.1 billion and the company will repay $1 billion of debt and initiate a new $200 million stock repurchase program. Additionally, the company will change its name back to Callaway Golf Company and ticker symbol to CALY.