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Biggest clubmaker will buy biggest ball producer

Associated Press

Thursday, September 4, 2003

CHICOPEE, Mass. -- Callaway Golf Co., the world's largest golf club maker, won federal bankruptcy court approval Thursday to buy Top-Flite Golf Co., one of the nation's oldest and largest golf ball makers. The $174.4 million sale is expected to be completed this month, Callaway officials said. Callaway, of Carlsbad, Calif., beat out sporting goods giant Adidas in a bid to acquire Top-Flite's assets after it sought Chapter 11 bankruptcy protection in June. More than 30 bids and cou ...

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