Callaway Golf Company and Topgolf International, Inc. announced that the companies have completed their previously announced merger, following approval by shareholders of both companies. The combined enterprise creates an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment.
Topgolf is a leading tech-enabled golf entertainment business, with an innovative platform comprised of its groundbreaking open-air venues, revolutionary Toptracer technology, and innovative media platform.
Erik Anderson, Executive Chairman of Topgolf, added, “I am tremendously proud of everything we’ve achieved at Topgolf since our founding in 2000. Our dedicated team of associates, groundbreaking Toptracer technology, and proprietary venues and media platforms have transformed the intersection of sports and entertainment.
What happens with Canada?
Previously in the summer of 2017, Topgolf and Cineplex announced an exclusive partnership that will bring Topgolf’s sports entertainment experience to Canada. The press release said “The joint venture will see the opening of multiple Topgolf venues in markets across the country during the next several years”.
No venues were built and in 2020 a deal was announced that, British-owned Cineworld bought Cineplex for 2.8 billion. Later in the year Cineworld says its deal to buy Cineplex Inc. is off, claiming that “certain breaches” of the contract were made by the Canadian company.
But Cineplex fired back, insisting the allegations of wrongdoing are false, and vowing to see Cineworld in court in a battle over damages.
The sudden disagreement sets the scene for what could be a dramatic showdown between two movie exhibition giants in the midst of a viral pandemic that’s forced their theatres to shut down. What happens with Topgolf and the joint venture with Canada? With the current pandemic and potential legal issues, we assume Topgolf coming to Canada has been put on hold.
