Topgolf Callaway Brands Corp. (NYSE: MODG) (the Company) has announced that it has purchased certain assets from Invited, Inc., the largest owner and operator of private golf clubs in the US, related to its BigShots Golf business. The acquisition adds the BigShots brand and certain locations to the Company’s portfolio of US venues, expanding its leadership position in off-course golf. The acquired BigShots’ portfolio includes four domestic venues, comprised of one owned venue and three franchise venues, as well as certain other development rights for other potential venues. Concurrent with this transaction, the Company has also entered into a preferred vendor agreement with Invited in which Topgolf Callaway Brands’ products and merchandise will be featured at Invited’s more than 140 golf and country clubs.

Latham & Watkins LLP advised Topgolf Callaway Brands Corp. in the transaction with a corporate deal team led by San Diego partners Craig Garner and Kevin Reyes, with associates Shelby Harrison and Lucy Chauvin. Advice was also provided on IP and data privacy matters by Bay Area partner Michelle Gross, with associates Ryan Sanders and Caroline Omotayo; on benefits and ERISA matters by San Diego partner Holly Bauer, with associate Rachel Narowski; on real estate matters by San Diego counsel Achraf Farraj, with associate Sterling Swift; on insurance matters by Los Angeles partner Drew Levin, with associate Hannah Cary; and on tax matters by Century City/Orange County partner Sam Weiner, with associate Brian Rogers.