Bowlero Corp Completes Three More Acquisitions

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) announced the completion of three acquisitions, marking a total of 12 completed acquisitions in 2022. These newly acquired locations include a 50-lane center in Sacramento, CA, and two centers in Wisconsin, enhancing the company's presence in these states. The acquisitions are part of Bowlero's strategy for accelerated growth through acquisitions and new builds. The new centers will open under Bowlero management on October 21.

Positive

• Completion of three acquisitions, increasing total to 12 in 2022.
• Expansion in California and Wisconsin, enhancing market presence.
• Robust pipeline for future acquisitions indicates ongoing growth.

Negative

• None.

Marks the Company's 10^th, 11^th, and 12^th Completed Acquisitions of 2022

Robust Pipeline of Definitive Agreements Remain

RICHMOND, Va., Oct. 20, 2022 /PRNewswire/ -- Bowlero Corp., (NYSE: BOWL) the world's leader in bowling entertainment, announced today that it has completed three more acquisitions from its pipeline of definitive agreements in 2022. This marks the Company's 7^th completed acquisition of FY23. 

Brett Parker, President & Chief Financial Officer of Bowlero Corp stated, "We are delighted with the pace and quality of our acquisitions so far in 2022, with these completions marking our 45^th location in California and expanding our presence in Wisconsin from three to five." 

On the West Coast, Strikes Unlimited is a 50-lane center in Sacramento, CA with state-of-the-art technology, arcade games, an on-site pro-shop and home to the Halftime Bar and Grill.

Super Bowl Family Entertainment Center, located in Wisconsin, is a 48-lane center featuring a wide selection of arcade games, blacklight bowling, leagues and a sports bar and grill. Additionally, located minutes away from downtown Milwaukee, is JB's on 41. With 10 private luxury suites, 35 modern bowling lanes, 40 arcade games and much more, this location is a nationally and locally ranked top bowling and entertainment destination.

All three locations will officially open under Bowlero Corp management the weekend of October 21^st.

"Our pipeline for additional deals remains robust, and we will continue to pursue accelerated growth through our proven strategy of acquisitions and new builds," said Parker in closing.

About Bowlero Corp

Bowlero Corp. is the worldwide 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

Media Contact: The Door, bowlero@thedooronline.com

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SOURCE Bowlero Corp

FAQ

What is Bowlero Corp's latest acquisition news?

Bowlero Corp announced the completion of three acquisitions, marking a total of 12 acquisitions in 2022.

What locations did Bowlero Corp acquire?

Bowlero Corp acquired a 50-lane center in Sacramento, CA, and two locations in Wisconsin.

When will the new Bowlero locations open?

The new locations will open under Bowlero management on the weekend of October 21.

How many total acquisitions has Bowlero completed in 2022?

Bowlero has completed a total of 12 acquisitions in 2022.

What is the strategic focus of Bowlero Corp's acquisitions?

Bowlero Corp is focused on accelerated growth through acquisitions and new builds as part of its expansion strategy.