Bowlero Corp. Completes Latest Acquisition

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) has successfully acquired Great Escape, a 24-lane bowling center located in Pleasant Hill, Iowa, marking its 15th acquisition in 2022. This acquisition increases Bowlero's total center count to 326. Great Escape offers various entertainment options, including laser tag and arcade games, and will begin operations under Bowlero's management on December 9. This acquisition emphasizes Bowlero's strategy to enhance its national presence and provide a world-class entertainment experience for its guests.

Positive

• Acquisition of Great Escape expands Bowlero's footprint, increasing total centers to 326.
• Great Escape features diverse entertainment options that align with Bowlero's vision.
• Acquisition reflects Bowlero's aggressive growth strategy in the bowling entertainment sector.

Negative

• None.

Adds Great Escape in Pleasant Hill, Iowa to Growing Portfolio

RICHMOND, Va.--(BUSINESS WIRE)-- Bowlero Corp., (NYSE: BOWL) the global leader in bowling entertainment, announced today that it has completed the acquisition of Great Escape in Iowa. This is the Company’s 15^th completed acquisition in calendar year 2022, bringing the Company’s total center count to 326.

Great Escape, located in Pleasant Hill, a suburb of Des Moines, is a 24-lane bowling center featuring laser tag, over 50 arcade games, virtual reality, and a full-service restaurant. Great Escape marks the Company’s second acquisition in Iowa this calendar year, the first being Thunderbowl located in Council Bluffs.

Brett Parker, President & Chief Financial Officer of Bowlero Corp. stated, “The addition of Great Escape is another exciting acquisition for Bowlero. We remain committed to bringing our guests a world-class entertainment experience, and furthering our presence nationwide.”

Great Escape is expected to open under Bowlero Corp. management on December 9^th.

About Bowlero Corp
Bowlero Corp. is the global leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 27 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005766/en/

For Media:

Bowlero Corp. Public Relations

PR@BowleroCorp.com

For Investors:

Bowlero Corp. Investor Relations

IRSupport@BowleroCorp.com

Source: Bowlero Corp.

FAQ

What is Bowlero Corp.'s latest acquisition as of December 2022?

Bowlero Corp. has acquired Great Escape, a bowling center in Pleasant Hill, Iowa.

How many acquisitions has Bowlero Corp. completed in 2022?

Bowlero Corp. has completed 15 acquisitions in 2022.

What will be the impact of the Great Escape acquisition on Bowlero's center count?

The acquisition of Great Escape increases Bowlero's total center count to 326.

When is Great Escape expected to begin operations under Bowlero management?

Great Escape is expected to begin operations under Bowlero management on December 9.