Bowlero Corp Continues Midwest Expansion - Enters the Omaha Market with Two Acquisitions

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) has entered a definitive agreement to acquire The Mark in Elkhorn, NE, and completed the acquisition of Thunderbowl in Council Bluffs, IA. This marks Bowlero's 16th agreement of 2022, with nine acquisitions completed this year. The Mark is a family entertainment center featuring 40 bowling lanes and various activities, while Thunderbowl offers 32 lanes and a full-service restaurant. Bowlero aims to expand its presence in the Omaha market, with Thunderbowl officially under its management as of October 14, and The Mark expected to close in mid-November.

Positive

• Expansion into the Omaha market with the acquisition of two new locations.
• The Mark features a state-of-the-art facility with multiple entertainment options, enhancing customer experience.
• Thunderbowl is set to open under Bowlero's management, adding to its operational portfolio.

Negative

• None.

This marks Bowlero Corps 16^th definitive agreement of 2022 with nine completed acquisitions

RICHMOND, Va., Oct. 13, 2022 /PRNewswire/ -- Bowlero Corp., (NYSE: BOWL) the world's leader in bowling entertainment, announced today that it has entered into a definitive agreement to acquire The Mark near Omaha, NE and has completed the acquisition of Thunderbowl in nearby Council Bluffs, IA. The remaining seven acquisitions under definitive agreements are moving towards completion in the coming months.

The Mark, located in Elkhorn, NE, is a state-of-the-art family entertainment center offering a wide variety of activities such as bowling, leagues and events. This center is over 85,000 sq. ft. and is home to 40 lanes, basketball and volleyball courts, an arcade, full-service kitchen and a sports bar.

Thunderbowl features 32 lanes, an interactive arcade and an on-site pro-shop. Also, located at this location is McCoy's Bar and Grill, a full-service restaurant known for their outdoor patio with fire-pits and flat screens.

"We have been considering the Omaha market for some time and fortunately excellent acquisition opportunities arose," said Thomas Shannon, Founder and CEO of Bowlero Corp. "These two venues are undoubtedly great additions to our growing portfolio."

The addition of these two locations is part of Bowlero Corp's growth strategy, expanding the company's footprint in key markets.

Thunderbowl will officially open under Bowlero Corp's management as of October 14^th. The acquisition of The Mark is expected to be completed in mid-November.

Thus far in FY23 Bowlero Corp entered into eight definitive agreements, with four completed acquisitions.

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 are Bowlero Corp's recent acquisitions?

Bowlero Corp has recently acquired The Mark in Elkhorn, NE, and Thunderbowl in Council Bluffs, IA.

When will The Mark officially join Bowlero's portfolio?

The acquisition of The Mark is expected to be completed in mid-November.

What is the significance of these acquisitions for Bowlero Corp?

These acquisitions are part of Bowlero's growth strategy to expand its footprint in key markets.

How many acquisitions has Bowlero Corp completed in 2022?

Bowlero Corp has completed nine acquisitions in 2022.

What facilities does Thunderbowl offer?

Thunderbowl features 32 bowling lanes, an interactive arcade, and a full-service restaurant.