AMF Bowling (‘AMF’) is delighted to announce the acquisition of Hollywood Bowl (‘HWB’). The transaction creates the market-leader in tenpin bowling, with 42 high quality assets nationwide and annual sales of over £60m.
The acquisition and subsequent merger is backed by a £20m investment from CBPE Capital (‘CBPE’); AMF will retain a majority stake in the group.
The merged entity will be led by AMF’s experienced management team, headed by CEO Richard Cook and Finance Director Paul Harris.
HWB is a strong strategic fit with AMF, with excellent regional complementarity. The combined group will create one of the UK’s premier family entertainment providers, whose scale will support continued investment and innovation, allowing the group to deliver a superior offering to customers.
AMF is the third largest bowling operator in the UK in terms of turnover. AMF has a history spanning over 100 years, commencing operations in the USA in 1900, and entering the UK market in the 1960s. It was acquired by the current owner in October 2004 with a view to kick starting industry consolidation – this transaction represents a key milestone in achieving this ambition.
HWB, a division of Mitchells & Butlers plc, is the UK’s second largest bowling business by turnover.
Richard Cook said: “Our family entertainment centres are an excellent strategic fit with HWB. This market-leader will have a strong brand and will continue to provide an outstanding customer experience to families all over the UK. We are excited to be working alongside CBPE, whose support provides a solid platform for continued innovation and future growth.”
Commenting on the investment, Sean Dinnen, CBPE partner said: “This is the first investment for our Fund VIII and we look forward to working with the management team to continue their success in the bowling sector.”