Bowlero Completes Acquisition of Lucky Strike

Rhea-AI Summary

Bowlero Corp. completes acquisition of Lucky Strike Entertainment in $90 million all-cash deal, expanding national footprint to 345 centers in 36 states.

Positive

• Acquisition expands national footprint and increases the number of centers to 345.
• Expects Lucky Strike centers to be top-performers within the business.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today announced the close of its previously announced agreement to acquire Lucky Strike Entertainment, LLC (“Lucky Strike”) in an all-cash transaction valued at approximately $90 million.

With the completion of the transaction, Bowlero has acquired all 14 Lucky Strike bowling centers, increasing the Company’s national footprint to 345 centers in 36 states. These centers offer a high-energy atmosphere, a sophisticated menu, private event spaces, billiards, and first-class amusements. The Transaction launches Bowlero into the heart of some of the U.S.’s largest cities, including Boston, Denver, Chicago, Los Angeles, Philadelphia, San Francisco, Honolulu and more.

Thomas Shannon, Founder, Chief Executive Officer and President of Bowlero, said, “We welcome Lucky Strike to the Bowlero family. All 14 of the Lucky Strike centers are located in prime cities and areas across the country and we expect them to be top-performers within our business.”

“We look forward to bringing the proven and successful Bowlero operating ethos to the world-class Lucky Strike brand and portfolio. We expect to improve upon the already strong financial profile of these assets and, like at all of our centers, will continue to be perpetual tinkerers oriented towards maximizing the growth of our business and shareholder value,” said Mr. Shannon in closing.

About Bowlero Corp.
Bowlero Corp. is the worldwide leader in bowling entertainment. With 345 bowling centers across North America, Bowlero Corp. serves nearly 30 million guests each year through a family of brands that includes Bowlero and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

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Source: Bowlero Corp