Callaway Golf acquires OGIO in $75m deal

Callaway Golf has acquired OGIO, known for their range of luggage, golf bags and golf apparel, for $75.5 million in an all-cash transaction.

“We are excited about OGIO becoming part of Callaway and believe this acquisition aligns well with our stated goal of strategically developing growth in tangential areas,” commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company.

OGIO Callaway Golf acquires OGIO in $75m deal

The acquisition enhances Callaway’s presence in golf while also providing a platform for future growth in the lifestyle category. Callaway expects the deal to contribute approximately $45 million in revenue to Callaway in 2017.

“There is a robust strategic fit between the companies; both are strong brands with a sports heritage that share a passion for creating high-quality, performance-driven products. There is also significant overlap in our supply chains and go-to-market strategies, which should allow us to add value and create profitable growth.”

The OGIO is the second acquisition for Callaway in the last 6 months following its purchase of bespoke putter maker Toulon Design last August, which included ex-TaylorMade design kingpin Sean Toulon taking on the GM role at Odyssey Golf and a senior vice president seat at Callaway Golf.