Bowlero Enters Tennessee Through Andy B's Acquisition

  • Bowlero Corp BOWL has entered into a definitive agreement to acquire Andy B's in Tennessee. The financial terms of the deal were not disclosed.
  • Andy B is a 44-lane center comprising 32 traditional lanes and 12 private lanes featuring audio and lighting with 50 feet of video displays.
  • The completion of the 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 Founder and CEO Thomas Shannon.
  • Bowlero held $89.8 million in cash and equivalents as of Jan. 1, 2023.
  • Andy B's will open as a Bowlero upon completion of the acquisition.
  • Price Action: BOWL shares are trading higher by 0.80% at $15.05 on the last check Tuesday.
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