Hollywood Bowl plans IPO next month

Ten pin bowling lane operator Hollywood Bowl announced plans to float in London on Wednesday morning.

The Hemel Hempstead-based chain is the UK’s largest ten-pin bowling operator, accounting for a third of the market with 54 centres across the country.

It was keeping mum on the size of its Investec-managed flotation, with chief executive Stephen Burns saying the IPO would allow it “to continue to build on the momentum of the business, providing a solid platform for future growth”.

Revenues at Hollywood Bowl grew 9% last year to £86m, with like-for-like sales jumping 11%.

In the six months to the end of March, revenues were up 25% at £55m.

Bowling contributes 47% of the company’s revenues, it reported, with 28% of it coming from food and drink and 23% from amusement machines.

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

“We have achieved a huge amount in the past few years, revolutionising the customer experience and transforming the business through investment and acquisition.

“We provide an outstanding family entertainment experience and we are looking forward to taking that experience to more and more people across the UK,” he added.

Hollywood Bowl was formed six years ago, when pubco Mitchells & Butlers sold its 24 bowling lanes to rival AMF for £27m.