Steve Burns, chief executive of The Original Bowling Company (TOBC), has told M&C Report the acquisition of 17-strong Bowlplex will not halt the company’s existing growth plan.
Electra partners, TOBC’s owners, announced its acquisition of Bowlplex yesterday, subject to approval from the Competitions and Markets Authority.
Burns told M&C Report that the move, which creates a 61-strong company, would strengthen TOBC’s profile across the country.
He said: “They’ve got sites from Glasgow right down to Brighton, so it’s fabulous exposure. They will be brought over to the Hollywood Bowl model and that will include the full revamp of Harry’s Kitchen. That work, if the deal is approved, can start very soon. We would probably be looking at five sites in the first year and then over time we would convert the whole estate. The sites will fit very well into the current estate.
“This doesn’t change anything in terms of the rate of expansion for TOBC that was already planned. It just puts us in a better position when talking to landlords because our profile is higher.”
Burns said the company would have to wait for the CMA’s decision to find out if the company would need to dispose of sites in close proximity.
Bill Priestley, partner at Electra Partners, said: “We have been interested Bowlplex for some time due to the quality of its locations and complementary portfolio. Our plan is to drive further growth through investing in the development of the existing sites and replication of Hollywood Bowl’s successful customer offering.”
