Acquisition of TopGolf by Callaway Will Not Affect Its King of Prussia Project

The acquisition of Topgolf Entertainment Group by publicly-traded Callaway Golf will not affect its planned project in King of Prussia. Image via TopGolf.

The announced acquisition of Topgolf Entertainment Group by publicly-traded golf brand Callaway will not affect its planned projects in the Philadelphia area, including the one in King of Prussia, writes Natalie Kostelni for the Philadelphia Business Journal.

“We are looking forward to re-starting our development efforts regarding new venues,” said a company spokeswoman.

No information on the timing of the project was provided.

The King of Prussia project will be developed on the site of the former American Baptist Churches USA headquarters. The 48.5-acre property is well positioned at Gulph Road and First Avenue with easy access to Route 422 and several other major roadways.

“We’re still waiting to get the green light from Topgolf,” said Jerry Holtz of Provco Group, which owns the Gulph Road property and will be in charge of developing the Topgolf.

Callaway, which has owned a 14 percent ownership stake in Topgolf for the last fourteen years, is buying the Dallas-based company in an all-stock transaction that values Topgolf at $2 billion.

“Together, Callaway and Topgolf create an unrivaled golf and entertainment business,” said Chip Brewer, president and CEO of Callaway.

Read more about the King of Prussia project at the Philadelphia Business Journal by clicking here.

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