Bowlero Acquires Thunderbowl Lanes In Michigan; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Bowlero Corp. (NYSE:BOWL) announced its agreement to acquire Thunderbowl Lanes, the largest bowling center in the U.S., located in Allen Park, Michigan. The deal includes the business and the 8 acres of land it sits on, expected to close in June 2024 through an all-cash transaction. This acquisition marks Bowlero's sixth location in Michigan.
May 09, 2024 | 9:51 pm
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Bowlero Corp. is set to acquire Thunderbowl Lanes, significantly expanding its footprint in Michigan with this strategic acquisition.
The acquisition of Thunderbowl Lanes by Bowlero Corp. represents a significant expansion of Bowlero's operations, particularly in Michigan where this will be their sixth location. Given Thunderbowl Lanes' status as the largest bowling center in the U.S., this move is likely to positively impact Bowlero's market presence and operational scale. The transaction, being an all-cash deal, indicates Bowlero's strong financial position and commitment to growth. While the financial terms were not disclosed, the strategic nature of this acquisition suggests a positive outlook for Bowlero's stock in the short term.
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