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8-K - FORM 8-K - CALLAWAY GOLF CO | d329401d8k.htm |
Exhibit 99.1
Contacts: Brad Holiday
Patrick Burke
Tim Buckman
(760) 931-1771
CALLAWAY GOLF COMPANY SELLS TOP-FLITE TO DICKS SPORTING GOODS
CARLSBAD, Calif., April 4, 2012 Callaway Golf Company (NYSE:ELY) today announced the sale of the Top-Flite brand to Dicks Sporting Goods, Inc. The announcement was made by Chip Brewer, President and CEO, Callaway Golf.
The decision to sell Top-Flite reflects the Companys 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 Dicks 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 Companys core business units.
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About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company (NYSE:ELY) creates products and services designed to make every golfer a better golfer. Callaway Golf Company manufactures and sells golf clubs and golf balls, and sells golf apparel, footwear and accessories, under the Callaway Golf® and Odyssey® brands in more than 110 countries worldwide. For more information please visit www.callawaygolf.com or shop.callawaygolf.com.