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- Bowlero Corp (NYSE:BOWL) has entered into a definitive agreement to acquire The Mark near Omaha, Nebraska. The Mark is a family entertainment center offering a variety of activities such as bowling, leagues, and events.
- The center is over 85,000 sq. ft. and is home to 40 lanes, basketball and volleyball courts, an arcade, a full-service kitchen, and a sports bar. The company expects to complete the acquisition in mid-November.
- Bowlero has also completed the acquisition of Thunderbowl in nearby Council Bluffs, Iowa. Thunderbowl features 32 lanes, an interactive arcade and an on-site pro-shop.
- Thus far, in FY23, Bowlero entered into eight definitive agreements, with four completed acquisitions. The company also moves towards completing the remaining acquisitions in the coming months.
- The company held $132.2 million in cash and equivalents as of July 3, 2022.
- "We have been considering the Omaha market for some time and fortunately excellent acquisition opportunities arose," said CEO Thomas Shannon.
- Price Action: BOWL shares are trading lower by 1.46% at $12.79 on the last check Thursday.
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