Top-Flite
{{Infobox brand
| name = Top-Flite
| logo =
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| producttype = Golf equipment (balls, bags, gloves, accessories)
| currentowner = Dick's Sporting Goods
| producedby =
| country = USA
| introduced =
| discontinued =
| related =
| markets = Sports equipment
| previousowners =
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| website = {{url|https://topflite-golf.com/|topflite-golf.com}}
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}}
Top-Flite is an American brand of sports equipment, most recognized for its golf balls, created by Spalding in the 1920s. Spalding retained the brand until 2003, when it was purchased by Callaway; Callaway sold the brand to Dick's Sporting Goods in 2012.
History
Spalding's non-golf operations were acquired by the Russell Corporation in April 2003.{{cite news |title=Russell Is Buying Most Of Spalding Sporting Goods Unit |url=https://query.nytimes.com/gst/fullpage.html?res=9505E4D6173AF93BA25757C0A9659C8B63 |work=New York Times |agency=Bloomberg News |date=April 18, 2003 |access-date=May 23, 2011}} Later that year, soon after the Top-Flite Golf Company had filed for Chapter 11 bankruptcy, Callaway Golf Company announced its intention to purchase Spalding's Top-Flite, Strata and Ben Hogan brands for around $125 million.{{Cite web |date=2003-06-30 |title=SEC Filing |url=https://www.topgolfcallawaybrands.com/node/12236/html |access-date=2023-09-07 |website=Topgolf Callaway Brands}} Due to competition from Adidas, the acquisition cost Callaway $169 million.{{cite news |url=https://www.nytimes.com/2003/09/05/business/company-news-callaway-golf-beats-out-adidas-to-buy-top-flite.html |title=Callaway Golf beats out Adidas to buy top-flite |work=New York Times |agency=Bloomberg News |date=September 5, 2003 |access-date=October 15, 2008}} Callaway had already invested $170 million in its own plant in Carlsbad, California, this acquisition made it the second largest golf ball manufacturer at 22% of the market, behind only Acushnet, owner of Titleist.{{sfn|Stogel|2004}}
In 2012, Callaway sold the Top-Flite brand to Dick's Sporting Goods, citing declining sales,{{cite web|author=Mike Stachura|url=http://www.golfdigest.com/blogs/the-loop/2012/04/callaway-sells-top-flite-to-di.html|title=Callaway sells Top-Flite to Dick's|publisher=Golf Digest|date=April 4, 2012|access-date=December 24, 2015}}
References
{{reflist}}
Sources
- {{cite journal |last1=Stogel |first1=Chuck |title=Driving to the top: with aggressive brand acquisitions, product development and strong leadership at the helm, Callaway is picking up its game |journal=Brandweek |date=2004 |volume=45 |issue=4 |pages=24-28 |url=https://go.gale.com/ps/i.do?id=GALE%7CA112645927&sid=googleScholar&v=2.1&it=r&linkaccess=abs&issn=10644318&p=AONE&sw=w&userGroupName=anon%7E1bee5422&aty=open-web-entry}}
External links
- {{Official website|https://topflite-golf.com/}}
{{Dick's Sporting Goods}}
{{Sports equipment brands}}
Category:2003 mergers and acquisitions