Callaway Golf Company has acquired Ogio International, Inc., best known as a designer and manufacturer of golf club bags, $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,” said Chip Brewer, president and CEO of Callaway Golf Company. “Furthermore, 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.”
In 2017, Brewer said, is expected to contribute to Callaway approximately $45 million in revenue.