Callaway Golf Company (NYSE:ELY) has announced the sale of the Top-Flite brand to Dick’s Sporting Goods, Inc. The announcement was made by Chip Brewer, President and CEO, Callaway Golf.
“The decision to sell Top-Flite reflects the Company’s renewed focus and commitment to driving the proficiency of our core businesses, specifically the success of Callaway and Odyssey products,” said Brewer. “Our strong working relationship with Dick’s Sporting Goods went a long way towards the completion of this agreement and we look forward to their stewardship of the Top-Flite brand.”
Brewer, a proven senior executive in the golf equipment industry, took the helm of Callaway Golf Company on March 5, 2012. Earlier this year, Callaway Golf completed the sale of the Ben Hogan brand, which the Company acquired along with Top-Flite in 2003. Both divestitures followed a global restructuring at Callaway Golf Company that streamlined the organization and aimed to reduce costs and increase the focus placed on the Company’s core business units.
Top Flite www.topflite.com
Callaway Golf www.callawaygolf.com
Dick’s Sporting Goods, Inc. www.dickssportinggoods.com