Topgolf is expanding through acquisition after Topgolf Callaway purchased one of their competitors, BigShots Golf, for $29 million.
BigShots Golf, which had been owned by course-club owner and operator Invited (formerly ClubCorp), had six locations. BigShots Golf owned one domestic location, while the other five are owned by franchisees. Topgolf is purchasing the owned-and-operated location and the franchise-related revenue streams of three locations from BigShots Golf.
The six locations are in Bryan and Ft. Worth, Texas; Akron, Ohio; Springfield, Mo.; St. George, Utah; and Vero Beach, Fla. It is unclear which locations are included in the deal.
“We are essentially purchasing an additional off-course venue and the royalty stream from three franchise venues, including the option to convert those to Toptracer technology in the near future,” said Topgolf Callaway Brands President and CEO Chip Brewer, “As well as further building out and strengthening our future venue pipeline and growing our partnership with an important golf equipment and apparel partner, Invited – all for the price of approximately one Topgolf venue.”
BigShots Golf was not positioned as a Topgolf competitor, although the locations functioned similar to a Topgolf. BigShots sought to find traction in "underserved" areas. It is not clear if BigShots locations will be rebranded at Topgolf.
The company had ambitious plans to open a large facility in Naples, Fla., complete with a 12-hole shout course, but those plans were abandoned in 2023. BigShots had plans to open five more locations in 2024, along with others planned in Panama City, Fla., and Grand Prairie, Texas.
For each of the BigShots locations included in the deal, Toptracer technology will be offered as an enhancement, as well as the Topgolf food and drink menu, which is similar to the existing BigShots offering of food and drinks, including cocktails, wine and beer. Additionally, Topgolf Callaway Brands’ products and merchandise will be featured at Invited golf and country clubs through a new preferred-vendor agreement.