Top-Flite golf clubs and golf balls are moving into Dick's Sporting Goods Inc.'s collection of private label brands.
Findlay-based Dick's said on Wednesday it bought intellectual property rights to the brand from Callaway Golf Co. No terms were disclosed, and Dick's representatives couldn't be reached for comment. Dick's CEO Edward W. Stack said Top-Flite is "trusted by golfers at every skill level" and the acquisition gives the company a competitive advantage in the golf market. Carlsbad, Calif.-based Callaway reported a $171.8 million loss last year, citing a "challenging golf market" in its annual report.
Callaway CEO Chip Brewer said the sale reflects a renewed focus on core businesses, specifically Callaway and Odyssey. Callaway sold its Ben Hogan brand earlier this year. Dick's operates 480 namesake stores and 81 Golf Galaxy stores.
