: Bowlero paying $90 million to buy Lucky Strike in bowling tie-up

Bowlero Corp. BOWL said Wednesday it agreed to pay $90 million for Lucky Strike Entertainment LLC, which owns 14 bowling alleys in nine states. Bowlero said the deal will launch its business into Boston, Denver, Chicago, Los Angeles, Philadelphia and San Francisco. Bowlero now projects 343 bowling centers in 35 states after the deal closes, up from 325 now.  The deal is expected to close in the first half of Bowlero’s fiscal 2024. The purchase price amounts to about nine times Lucky Strike’s 2023 earnings before interest, taxes, depreciation and amortization of $11 million and about one times Lucky Strike’s revenue of $87 million. Bowlero stock is down about 0.1% in premarket trades on Wednsday.

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