Topgolf Callaway Brands Enters into Multiyear Strategic Agreement with Golf Saudi

Rhea-AI Summary

Topgolf Callaway Brands Corp. (NYSE: MODG) has entered a multiyear strategic agreement with Golf Saudi Entertainment, to expand its brand presence in Saudi Arabia. The deal includes:

1. Golf Saudi plans to build three Topgolf venues by 2028, with an option for two more.
2. Callaway Golf, Odyssey, TravisMathew, and Ogio become official equipment and apparel brands for Saudi national golf teams and professionals.
3. Golf Saudi becomes the exclusive distributor of Callaway Golf, Odyssey, and Ogio products in Saudi Arabia.

This partnership aims to strengthen Topgolf Callaway Brands' global presence and contribute to Saudi Arabia's development as a golfing nation.

Positive

• Expansion into Saudi Arabian market with three planned Topgolf venues by 2028
• Exclusive distribution rights for Callaway Golf, Odyssey, and Ogio products in Saudi Arabia
• Official equipment and apparel provider for Saudi national golf teams and professionals
• Potential for two additional Topgolf venues in the future

Negative

• None.

CARLSBAD, Calif., Sept. 19, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) continues its global expansion by entering into a multiyear agreement with Golf Saudi Entertainment, LLC ("Golf Saudi"), to bring Topgolf Callaway Brands' family of brands, including Topgolf, Callaway, TravisMathew, Odyssey and Ogio, to Saudi Arabia.

As part of the agreement, Golf Saudi plans to build three Topgolf venues by 2028, to be owned and operated by Golf Saudi with the option to open another two venues in the future. In addition, Callaway Golf, Odyssey, TravisMathew and Ogio will become the official equipment and apparel brands for the Saudi Men's, Women's and Junior National golf teams as well as for Saudi Elite golf professionals and golf pros working at Golf Saudi facilities. Finally, Golf Saudi will be the exclusive distributor of Callaway Golf, Odyssey and Ogio products in Saudi Arabia.

Managing Director and President, EMEA for Callaway Golf and former Topgolf Chief Franchise Officer Ben Sharpe said, "We're excited to enter another market in the Middle East with three venues in Saudi Arabia. We have found a strong partner in Golf Saudi to help us bring our modern golf brands – Topgolf, Toptracer, Callaway Golf, Odyssey, Ogio and TravisMathew – to the region and help transform Saudi Arabia into an exceptional golfing nation."

About Topgolf Callaway Brands Corp. 
Topgolf Callaway Brands Corp. (NYSE: MODG) is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Odyssey, OGIO and Jack Wolfskin. "Modern golf" is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. For more information, please visit https://www.topgolfcallawaybrands.com.

Contact

Press@TCBrands.com

 

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SOURCE Topgolf Callaway Brands Corp.

FAQ

What is the new strategic agreement between Topgolf Callaway Brands and Golf Saudi?

Topgolf Callaway Brands (NYSE: MODG) has entered a multiyear agreement with Golf Saudi to expand its brand presence in Saudi Arabia, including building Topgolf venues and becoming the official equipment and apparel provider for Saudi golf teams and professionals.

How many Topgolf venues are planned for Saudi Arabia under this agreement?

Golf Saudi plans to build three Topgolf venues by 2028, with an option to open two additional venues in the future.

Which Topgolf Callaway Brands will be distributed in Saudi Arabia?

Golf Saudi will be the exclusive distributor of Callaway Golf, Odyssey, and Ogio products in Saudi Arabia.

What role will Topgolf Callaway Brands play in Saudi Arabian golf?

Callaway Golf, Odyssey, TravisMathew, and Ogio will become the official equipment and apparel brands for Saudi national golf teams, elite professionals, and golf pros working at Golf Saudi facilities.