Bowlero Corp. to Enter Tennessee with Agreement to Acquire Andy B’s

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) has announced its definitive agreement to acquire Andy B’s in Bartlett, Tennessee, marking its first center in the state. This acquisition expands Bowlero's reach to 34 states. Andy B’s features 44 lanes, including 12 private lanes, an interactive arcade, and a full-service bar. Bowlero aims to continue its growth trajectory, having already entered into four acquisition agreements for additional bowling centers in 2023. The acquisition reflects Bowlero's strategy of quality expansion in the bowling entertainment market.

Positive

• Acquiring Andy B's expands Bowlero's footprint to 34 states.
• The acquisition adds a facility with modern amenities, enhancing customer experience.
• Bowlero continues to pursue multiple acquisitions, indicating strong growth potential.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Bowlero Corp. (NYSE: BOWL), the global leader in bowling entertainment, announced today that it has entered into a definitive agreement to acquire Andy B’s in Tennessee. The completion of this acquisition will mark the Company’s first center in the state.

“We are pleased to enter a new market, expanding our national footprint to 34 states,” said Thomas Shannon, Founder and CEO of Bowlero Corp. “We continue to pursue quality acquisitions, and Andy B’s is a significant addition to our Company.”

Andy B’s is located in Bartlett, TN, 13 miles outside of Memphis. This 44-lane center is made up of 32 traditional lanes and 12 private lanes featuring state-of-the-art audio and lighting with 50 feet of video displays. Andy B’s is also home to an interactive arcade, a snack bar and grill, and a full-service bar. Andy B’s will open as a Bowlero upon completion of the acquisition.

“We have a strong pipeline of acquisitions so far in 2023, and look forward to continuing our impressive growth trajectory through the calendar year,” said Shannon in closing.

Bowlero Corp. has entered into four definitive agreements for the acquisition of additional bowling centers thus far in the calendar year 2023.

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 is the significance of Bowlero's acquisition of Andy B's?

The acquisition expands Bowlero's market presence to Tennessee, enhancing its national footprint.

How many bowling centers has Bowlero acquired so far in 2023?

Bowlero has entered into four definitive agreements for additional bowling center acquisitions in 2023.

What facilities does Andy B's offer?

Andy B's includes 44 lanes, an interactive arcade, a snack bar and grill, and a full-service bar.

How does this acquisition impact Bowlero's future growth?

This acquisition is part of Bowlero's strategy to pursue quality growth and expand its national presence.