A golf-focused entertainment company backed by Tiger Woods has secured an investment from one of the sport’s largest companies.
TaylorMade Golf has invested in PopStroke, which provides players with app-based scorekeeping plus food and drink delivery to the course.
“The combination of PopStroke, Tiger, and TaylorMade not only brings unique international visibility but accelerates our trajectory as we push to become the premier brand in golf entertainment,” said PopStroke founder Greg Bartoli.
- The investment values PopStroke at $650 million.
- PopStroke has a location in Houston and will launch three Florida venues by 2024.
- Two locations are currently under construction in Arizona.
As part of the investment, TaylorMade will have product placement throughout PopStroke venues, including premium rental putters and golf balls that visitors can use and take home.
In 2021, TaylorMade was acquired by South Korea-based private equity firm Centroid Investment Partners for $1.7 billion — one of the largest acquisitions ever in the golf goods industry. Centroid purchased TaylorMade from New York-based KPS Capital Partners.
KPS acquired TaylorMade in May 2017 from Adidas for $425 million.
PopStroke aims to compete with other major players in the golf entertainment industry, including Topgolf Callaway Brands Corp. In March 2021, Callaway purchased Topgolf for $2.6 billion and rebranded in August 2022 to prioritize its entertainment and dining venture.
Topgolf has over 70 locations and plans to open 11 per year over the next four years.