Daily Business Report-Aug. 23, 2017
Chris Kirk, Keegan Bradley and Charley Hoffman wore TravisMathew polo shirts at the 2015 U.S. Open at Chambers Bay. ( Photo courtesy of TravisMathew )
Callaway Golf Co. Acquires
TravisMathew for $125.5 Million
Carlsbad-based Callaway Golf Co. announced the purchase of sports and lifestyle apparel company TravisMathew LLC for $125.5 million. The deal is expected to close in the third quarter of this year. TravisMathew will continue to operate out of its Huntington Beach headquarters and its management team will remain intact.
“With its golf heritage, culture of product excellence and double-digit growth in the golf and lifestyle apparel business, TravisMathew is a great fit with our business, brands, culture and our strategy to grow in areas tangential to golf,” said Chip Brewer, president and CEO of Callaway, in a statement. “This acquisition, once completed, is expected to be slightly accretive to earnings in 2018 and create significant value for our shareholders over the long-term. We look forward to working with the TravisMathew management team to maximize this brand’s growth potential.”
Founded by Travis Johnson, Travis Brasher and John Kruger in 2007, TravisMathew has grown from an exclusively golf clothes company to one that now offers tennis apparel and other lines. The company has retail stores in California and Arizona and sells clothing at Nordstrom, as well as at specialty golf stores and resorts. Callaway said TravisMathew’s 2017 sales are likely to be between $56 million and $60 million this year.
Callaway — which offers many products including golf equipment, hats and shirts through promo suppliers — recently reported second quarter sales of $305 million, a 25 percent year-over-year rise. Callaway also raised its full-year 2017 guidance and now expects sales of $980 million to $995 million. The TravisMathew deal is Callaway’s second acquisition outside of the traditional golf market. Earlier this year, Callaway bought backpack maker OGIO for $75.5 million.
____________________
SDSU Celebrating 120 Years in 120 Days
Festivities begin with Templo del Sol on Friday
By Coleen L. Geraghty | SDSU NewsCenter
San Diego State University has designated a 120-day period this fall to celebrate its one dozen decades of commitment and service to the San Diego community.
120 Years of Leadership kicks off Friday, Aug. 25, at Templo del Sol. Under the night sky, new students will take part in a time-honored custom that marks their first official night as Aztecs. Templo del Sol begins at 9:30 p.m. with the ceremonial “Hello Walk” through the Hepner Hall arches, witnessed by current students, alumni, faculty and staff.
The walk symbolizes the beginning of their journey as Aztecs for Life, and this year’s students will join a 120-year tradition of excellence in student success, scholarship, creative endeavors and community engagement.
Founded in 1897as San Diego Normal School with seven faculty members and 91 students—most of them aspiring teachers — the SDSU of today is a public research university enrolling 36,000 undergraduate, graduate and Ph.D. students guided by about 5,900 faculty and staff.
Hundreds of thousands have received degrees from SDSU since the first graduating class of 23 women and three men. Many Aztecs put down roots in their community, leading San Diego in business, politics, education, health, engineering, communication and telecommunication, sciences, the arts and the volunteer workforce.
“SDSU’s history and the history of San Diego have been intertwined for 120 years,” said Dan Montoya, assistant vice president of SDSU Alumni. “This celebration is a reminder of the university’s foundational role in our community and our state.”
2017 SDSU All-University Convocation
San Diego State University’s annual All-University Convocation is an opportunity to reflect on the university’s success and look ahead to the new academic year. The SDSU community is invited to hear President Sally Roush discuss plans and goals for the 2017-18 academic year at Convocation 2017, beginning at 10 a.m. on Thursday, Aug. 24, in the Conrad Prebys Aztec Student Union.
This year’s awards for Outstanding Faculty Contributions, also known as the Faculty Montys, will be presented.
____________________
Taylor Morrison Releases Final
Phases at Cottages at St. Cloud
Taylor Morrison, a national builder and developer, has released the final new home phases of Cottages at St. Cloud, its gated community in Oceanside.
Priced from the high $400,000s, homes at Cottages at St. Cloud offer two to three bedrooms and range in size from approximately 1,470 to 1,993 square feet.
Two-story townhomes and carriage homes at Cottages at St. Cloud offer access to amenities within the community including a clubhouse, Junior Olympic-sized pool, spa, indoor fitness room, outdoor barbecue grills and community kitchen – private amenities reserved for homeowners.
Cottages at St. Cloud is located at 4341 Shoreline Way, Unit 2, Oceanside, CA 92056.
____________________
General Atomics Opens
New Hangar in North Dakota
San Diego-based General Atomics Aeronautical Systems Inc. held a grand opening event Monday for its new hangar at the Grand Sky Unmanned Aircraft System Business Park near Grand Forks, N.D.
The hangar replaces the temporary facility that has been in operation since June 2016. It will house the company’s operational hardware, including Remotely Piloted Aircraft and Ground Control Stations as well as offices and conference rooms.
General Atomics’ operation also includes an office building located near the University of North Dakota campus that contains classrooms and a Predator Mission Aircrew Training System for accomplishing the academic and simulator segments of training.
____________________
Scripps Health CEO Honored Again
Scripps Health President and CEO Chris Van Gorder has been included on Modern Healthcare’s annual ranking of the nation’s 100 Most Influential People in Healthcare, which was published in the magazine’s Aug. 21 edition. This is the ninth time that Van Gorder has made the most influential list. He was the only person from San Diego County to make the rankings.
Van Gorder oversees more than 15,000 employees at five acute-care hospital campuses and 27 outpatient clinics operated by the nonprofit health system in San Diego County. More than 3,000 physicians are affiliated with the organization.
____________________
Nomad Donuts Opens its 2nd Shop
Featuring Canadian-Inspired Bagels
Nomad Donuts today will open its second location in the heart of North Park following several months of construction on the 3,200-square-foot former Lady of the Lake bookstore.
Nomad Donuts’ new location at 3102 University Ave. will add to its range of donuts with features like a Cuban design, Australian-style coffee and Canadian-inspired bagels.
“Our new University Avenue location is the realization of a vision we had back in February 2015 and I’m excited to add bagels to our offerings,” said Brad Keiller, owner of Nomad Donuts. “I’m even more excited to give Kristianna and the Nomad crew the tools and facility they deserve and can’t wait to share their creativity with the neighborhood. This new shop also allows us to overcome capacity issues that held us back from greater community involvement, which has always been a priority for me.”
Nomad Donuts’ second location is an expanded and evolved version of its original shop on 30th Street in Normal Heights.
The shop’s large interior boasts an open kitchen and floor-to-ceiling windows through which passers-by can view the bagel-making process and wood fire oven. Along the counter, guests can peruse a trio of display cases housing the day’s made-from-scratch donuts, bagels and other pastries.Aqua walls, colorful tiling and hardwood countertops create a Caribbean feel inspired by writer Ernest Hemingway’s home in Cuba, while assorted wooden captain’s chairs and tables atop a polished concrete floor add to the shop’s slightly rustic charm.
____________________
Don’t Feed the Birds
The Port of San Diego has begun installing signs urging the public to refrain from feeding birds. There has been an increase of citizens leaving food out for birds in various Port park locations which has resulted in an increase of seagulls, pigeons and other varieties of birds. The birds often will rummage through trash receptacles, strewing debris and leaving large amounts of fecal deposits in these areas. The fecal material can sometimes run off into San Diego Bay, degrading the water quality with increased bacteria. This can lead to beach closures.
