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Callaway Golf Company Announces Strategic Investment In Five Iron Golf

Nov 01, 2021•almost 4 years ago
Carlsbad

Description

Callaway Golf Company (the "Company" or "Callaway") (NYSE:ELY) today announced that it has completed a $30 million minority investment in Five Iron Golf, an emerging, privately-owned, urban indoor golf and entertainment company offering simulator rentals, golf lessons, custom club fittings, social events and a curated food and beverage menu. Callaway will be accounting for the investment on a cost basis. Other terms of the transaction were not disclosed.

Company Information

Company

Five Iron Golf

Location

Carlsbad, New Mexico, United States

About

Five Iron Golf is an urban indoor golf experience that combines golf, technology, and entertainment to inspire community and make golf enjoyable for every level of player. From early morning to late night, each location features industry-leading golf simulators available for rentals by the half hour, golf instructors available for private or group lessons, a full bar, a food menu, and event space. The Fitting Lab, a custom club-fitting operation and a Golf Digest Top 100 Clubfitter, is also offered at most locations. Membership options are available but not required to reserve a simulator, play in Five Iron's golf leagues, host an event, or book a lesson. Five Iron Golf originated in New York City in 2017 and has expanded to Chicago, Baltimore, Las Vegas, Philadelphia, Washington, D.C., Pittsburgh, and Singapore, with additional locations coming soon to Boston, Seattle, and Detroit. More information on Five Iron Golf and The Fitting Lab is available at fiveirongolf.com and thefittinglab.com.