Bowlero Enters Tennessee Through Andy B's Acquisition

by Shivani Kumaresan, Benzinga Staff Writer

April 18, 2023 10:11 AM | 1 min read

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.