M&B to sell Hollywood Bowl for £39m

City A.M. Reporter
PUBS and restaurants group Mitchells & Butlers (M&B) is selling its Hollywood Bowl ten-pin bowling business to AMF Bowling for £39m ($62m).

Hollywood Bowl's 24 sites will be added to its current 33 UK bowling centres.

M&B is selling “non-core businesses” to focus on its pub businesses, which include Harvester, Toby Carvery, Vintage Inns and O'Neill's.

The £39m sale of the bowling business is made up of £27m for the Hollywood Bowl and another £12m for four freehold properties.

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.”