In a recent move that has sent shockwaves across the golfing community, Callaway has announced that it’s parting ways with Topgolf, its coveted entertainment section, in a deal valued at roughly $1.1 billion. After nearly two decades of partnership, the brand announced the decision on Tuesday. It was noted that Callaway had sold 60 percent of its Topgolf unit to a Los Angeles private-equity firm, Leonard Green.

“As we considered various alternatives to separate Topgolf, including a potential spin-off transaction, we received interest from several parties,” said Callaway CEO and president Chip Brewer . “After a robust process and a thorough evaluation of a range of alternatives, we believe this sale is the best outcome for our shareholders, as well as our employees and other stakeholders

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