Callaway Golf Licensing Its Name to Ashworth

Callaway Golf Co., the maker of Big Bertha golf clubs, is licensing its name to sportswear maker Ashworth Inc.

Financial terms weren’t disclosed. Ashworth will create a line of men’s and women’s Callaway golf clothing to be sold in golf shops and department stores in the U.S., Canada, Europe, Australia, New Zealand and South Africa.

The Callaway apparel will be introduced in the second half of 2002, the companies said.

Callaway shares rose 48 cents to close at $24.60 on the New York Stock Exchange. Ashworth rose 35 cents to $6.35 on Nasdaq. Both companies are based in Carlsbad, Calif.