DALLAS — Topgolf Callaway Brands has completed the sale of a majority stake in its Dallas-based Topgolf business to private equity funds managed by Leonard Green & Partners, a move that reshapes the company’s future and brings new ownership to one of North Texas’ most recognizable entertainment brands.
The deal, effective Jan. 1, 2026, gives Leonard Green & Partners a 60% stake in Topgolf and Toptracer, valuing the business at about $1.1 billion. Topgolf Callaway Brands said it received about $800 million in cash proceeds after adjustments and transaction expenses. As part of the deal, the company repaid $1 billion in outstanding debt.
Topgolf Callaway Brands retained a 40% ownership stake in Topgolf following the transaction…