Midlands pubco disposes of ten pin bowling chain

BIRMINGHAM-based pubco Mitchells & Butlers has disposed of Hollywood Bowl for £39m.

M&B said it had sold all the operations and leasehold interests of the ten pin bowling alley chain to AMF Bowling for a gross cash consideration of £27m.

This transaction is expected to be completed on Friday.

Its board will sell the remaining freehold property interests in four of the sites for at least £12m in due course, it said today.

Last month, M&B announced it was selling 52 of its Innkeeper’s Lodges to Travelodge in a 25-year deal worth £75m.

M&B chief executive Adam Fowle said: “This further disposal of non core assets is another important step towards focusing the business on our market leading growth brands.”

Hollywood Bowl operates 24 ten pin bowling sites in the UK.

M&Bs’ portfolio of pub and restaurants includes Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group and Crown Carveries.