Bowlero Corp. Continues Expansion in Florida With Two Acquisitions

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) has announced the acquisition of two bowling centers in Cape Coral, Florida: Bowland Cape Coral and HeadPinz Cape Coral. These centers will enhance Bowlero's portfolio, which already includes over 325 locations across North America. Bowland features 33 lanes, a private event space, and a full-service bar, while HeadPinz offers 18 lanes and an expansive arcade. This strategic acquisition aims to expand Bowlero's footprint in Florida and drive future success in the new community, as stated by Brett Parker, President & CFO. Both centers will operate under the Bowlero brand post-acquisition.

Positive

• Expansion of Bowlero's footprint in Florida with two new bowling centers.
• Bowland Cape Coral features 33 lanes and additional amenities enhancing customer experience.
• HeadPinz Cape Coral offers a contemporary setup with over 40 arcade games, appealing to a wider audience.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Bowlero Corp., (NYSE: BOWL) the global leader in bowling entertainment, announced today that it has entered into definitive agreements to acquire two additional bowling centers in Florida – Bowland Cape Coral and HeadPinz Cape Coral.

Brett Parker, President & Chief Financial Officer of Bowlero Corp. stated, “We continue to be pleased with the quality of the assets that we have been able to add to our portfolio so far in 2023.”

Both locations located in Cape Coral, Florida offer a range of activities including bowling and arcade games. Bowland Cape Coral is a 33-lane center featuring a private event space for parties and events, league play, arcade games, and a full-service bar and restaurant. Located 5 miles away is HeadPinz Cape Coral, a contemporary 18-lane center with an expansive arcade with over 40 games and VIP private event space.

“These upcoming acquisitions are an exciting opportunity for our Company, expanding our footprint in Florida and entering a new community. We are looking forward to utilizing our resources to help further the success of these two centers in the coming months,” said Parker in closing.

Both locations will open as Bowlero centers upon completion of the acquisition.

About Bowlero Corp

Bowlero Corp. is the global leader in bowling entertainment, media, and events. With more than 325 bowling centers across North America, Bowlero Corp. serves more than 30 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

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Source: Bowlero Corp.

FAQ

What bowling centers is Bowlero Corp. acquiring?

Bowlero Corp. is acquiring Bowland Cape Coral and HeadPinz Cape Coral in Florida.

When will the new centers open as Bowlero centers?

Both centers will open as Bowlero centers upon completion of the acquisition.

What are the key features of Bowland Cape Coral?

Bowland Cape Coral features 33 bowling lanes, a private event space, and a full-service bar and restaurant.

What activities can guests enjoy at HeadPinz Cape Coral?

Guests at HeadPinz Cape Coral can enjoy bowling, arcade games, and VIP private event space.

How does Bowlero Corp. plan to enhance the acquired centers?

Bowlero Corp. plans to utilize its resources to further the success of the newly acquired centers in the coming months.