Business & Tech
Callaway Golf Sells Top Flite to Dick's Sporting Goods
The Carlsbad-based golf company has struggling since the recession began.
The , announced Wednesday the sale of its Top-Flite brand of golf equipment to Dick's Sporting Goods.
Top-Flite, which offers a line of golf balls and clubs, was acquired by Callaway nine years ago, along with the Ben Hogan line of clubs. Hogan was sold off earlier this year.
"The decision to sell Top-Flite reflects the company's renewed focus and commitment to driving the proficiency of our core businesses, specifically the success of Callaway and Odyssey products," said Chip Brewer, Callaway's president and chief executive officer. "Our strong working relationship with Dick's Sporting Goods went a long way towards the completion of this agreement and we look forward to their stewardship of the Top-Flite brand," he said.
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The moves are part of a restructuring of the golf equipment maker, including the beginning of Brewer's tenure last month. Dick's Sporting Goods, based in Pittsburgh, is a retailer with about 500 stores around the country.
–City News Service
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