Callaway Golf Company has completed its acquisition of golf and lifestyle apparel company TravisMathew LLC for US$125.5m in an all-cash transaction.

The deal, which is subject to a working capital adjustment, will see TravisMathew sales contribute about $15m to Callaway Golf's second-quarter financial results, the company says.

Post-acquisition, TravisMathew will continue to operate out of its Huntington Beach, California headquarters.   

"We believe TravisMathew fits well with our business, brand and culture and aligns with our strategy of developing growth in areas tangential to the golf equipment business," says Chip Brewer, president and CEO of Callaway Golf Company. 

"We have identified potential synergies in operations and distribution, as well as growth opportunities in the golf channels and international regions. We look forward to partnering with the TravisMathew management team to realise these synergies and capture these growth opportunities." 

TravisMathew has built on its golf heritage to include other lifestyle apparel and accessories. Net sales for the full year 2017 are expected to be between $55-$60m.