The BigShots Golf brand, originally designed to be a major competitor, has been sold by Topgolf Callaway in a deal which brings together two of the largest “golf experiences” brands.
According to the release, Topgolf Callaway will pay $29 million to acquire four of the six locations in the United States and all future rights.
BigShots was under the control of Invited Inc. – formerly ClubCorp. This organization is located in Dallas.
Chip Brewer, CEO of Topgolf Callaway Brands, said, “We’re essentially buying an additional off course venue, and the royalties from three franchise locations, with the option to convert them to Toptracer in the near future.” “We’re also strengthening and building our future venue pipeline, and growing our relationship with an important partner for golf apparel and equipment, Invited, all for about the cost of one Topgolf location.”
T.J. Schier was acting chief operating office for BigShots. He said that although BigShots Golf was similar to Topgolf, the company wasn’t looking to compete. Instead, it was trying to open new locations in areas “underserved” in terms of entertainment.
Randall Cousins, acting as senior vice president of the company in June said: “The world is very different from when we first evaluated the opportunity.” Today, we are facing increased costs across all major categories, including construction, financing and operations. We have explored many options in the last few months to reduce these challenges, and we invested a total of several million dollars into materials and development. We did not find a solution that was sustainable.”
BigShots, despite the fact that the announcement this week said there were four locations included in the purchase, has six locations open across the United States. These include Bryan and Fort Worth (Texas), Akron (Ohio), Springfield, Missouri, and St. George, Utah. St. George, Utah, and Vero Beach in Florida.
A BigShots spokesperson responded to an email asking which properties weren’t included in the deal: “The acquisition only encompasses what was in our news release.”
Naples, Grand Prairie, Florida and Panama City are also on the list of locations to be opened. An official from the company said that BigShots is on track to open at least five additional locations in the United States before 2024.
Tim O’Reilly is the CEO of O’Reilly Hospitably Management in Springfield, which owns the BigShots of that area. He told the Springfield News-Leader that the most significant change would be the addition Toptracer Technology. Toptracer, a software developed by Topgolf Callaway, tracks golf shots in real time and displays statistics such as ball speed and distance. O’Reilly has not indicated when the software will be made available in Springfield.
O’Reilly stated that BigShots would also be able to adopt the Topgolf Menu. Both menus offer cocktails, wine, beer, and traditional appetizers.
O’Reilly stated that despite the recent acquisition the hospitality management firm has “absolutely” no plans to change the BigShots interior or name.
In order to close the deal, both sides will enter into an agreement for a preferred vendor in which Topgolf Callaway Brands products and merchandise are featured at Invited’s 140 golf and country club locations.
