Nov 14 (Reuters) - Golf-equipment maker Topgolf Callaway

Brands ( MODG ) is in talks to sell its Topgolf unit to private

equity firm Leonard Green in a deal that could value the

business at about $1 billion, the Wall Street Journal reported

on Friday, citing people familiar with the matter.

Shares of the Carlsbad, California-based company rose 6%

on Friday after the report came out.

Los Angeles-based Leonard Green, which already holds a

minority stake in Topgolf, has reportedly shared feedback with

the company's management about the business.

Topgolf Callaway and Leonard Green did not immediately

respond to a Reuters request for comment.

Formed in 2021 through the merger of Callaway Golf and

Topgolf, the company announced in September 2024 that it would

split its two divisions to maximize shareholder value.

The move followed a steep 73% decline in the company's

shares from their 2021 post-merger highs, driven by investor

concerns leading up to last year's announcement.

Leonard Green, which manages $75 billion in assets,

according to its website, has a diverse portfolio spanning

consumer, healthcare, and business services sectors.

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