Callaway Golf Company Completes TravisMatthew Acquisition

Callaway Golf Company said Monday it has completed its all-cash acquisition of golf apparel company TravisMatthew for $125.5 million. TravisMatthew’s net sales for full year 2017 are estimated to be $55 million to $60 million and are expected to contribute approximately $15 million to Callaways second half results.

Including approximately $5 million of non-recurring transaction expenses and incremental non-cash expense resulting from the acquisition purchase accounting adjustments, TravisMathew is expected to be approximately $0.04 dilutive to FY earnings per share. On a non-GAAP basis, which excludes the $5 million of non-recurring and non-cash expenses, TravisMathew is expected to be approximately $0.01 dilutive to the FY EPS.

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