Carlsbad-based Callaway Golf Co. announced on Jan. 11 that it acquired Utah-based Ogio International Inc. for $75.5 million cash.

The purchase highlights Callaway (NYSE: ELY)’s interest in looking beyond its core golf market for its future direction.

Ogio designs and sells bags, accessories and apparel for golf — as well as the motor sports, endurance and lifestyle categories. Callaway sells clubs, balls and accessories under the Callaway and Odyssey brands.

“We are excited about Ogio becoming part of Callaway and believe this acquisition aligns well with our stated goal of strategically developing growth in tangential areas,” said Callaway CEO Chip Brewer in a prepared statement.

Brewer noted that there is “significant overlap in our supply chains and go-to-market strategies, which should allow us to add value and create profitable growth.”

Ogio is expected to contribute approximately $45 million in revenue to Callaway in 2017. Callaway management said it expects the purchase to be immediately accretive to earnings following one-time transaction and transition expenses.

Callaway said it plans to finance the transaction with cash on hand — the company reported $125 million in cash and cash equivalents on Sept. 30 — as well as borrowings from its existing asset-backed credit facilities.

Latham & Watkins LLP acted as legal counsel and Lazard acted as financial adviser to Callaway. Snell & Wilmer LLP acted as legal counsel and Robert W. Baird & Co. acted as financial adviser to Ogio.