Belfast Telegraph

UK Website Of The Year

Home News UK

Hollywood Bowl plans £280m stock market flotation

Published 15/06/2016

Chief executive Stephen Burns said the Hollywood Bowl Group was 'very excited' about the company's flotation
Chief executive Stephen Burns said the Hollywood Bowl Group was 'very excited' about the company's flotation

Hollywood Bowl, the UK's largest ten-pin bowling operator, has announced that it will float on the London Stock Exchange in July.

The listing, which will value the firm at around £280 million, will see its private equity owner Electra sell down about half of its 85% stake.

Electra acquired the firm in 2014 for £91 million and has presided over a period of steady growth.

Last year, the group's 54 centres helped deliver a 9% increase in revenues to £86 million while earnings increased 41% to £20.6 million.

Chief executive Stephen Burns said: "We are very excited about the next stage in the development of Hollywood Bowl Group, and believe we have all the attributes to succeed as a listed business.

"The IPO will allow us to continue to build the momentum of the business, providing a solid platform for further growth."

Mr Burns and other members of the management team will also sell part of their stake in the company.

Read More

From Belfast Telegraph