Aug 5th, 2017
Callaway buy Californian fashion brand TravisMathew
In $125.5 million deal
Callaway Golf Company have announced that it will buy TravisMathew for $125.5 million in an all–cash transaction.
“We are very excited about this acquisition,” commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. “With its golf heritage, culture of product excellence and double–digit growth in the golf and lifestyle apparel business, TravisMathew is a great fit with our business, brands, culture and our strategy to grow in areas tangential to golf. This acquisition, once completed, is expected to be slightly accretive to earnings in 2018 and create significant value for our shareholders over the long–term. We look forward to working with the TravisMathew management team to maximize this brand’s growth potential.”
The acquisition is expected to close in the third quarter of 2017. After the acquisition, TravisMathew will continue to operate out of its Huntington Beach, California headquarters. We've all been big fans of the brand at GP, and like the cut of their threads.
With Callaway now on board, could we be seeing a lot more of it in the UK?