Lucky Strike Entertainment Corporation has announced the acquisition of the real estate underlying 58 of its existing locations for $306 million. This strategic move transitions Lucky Strike from a renter to an owner, reducing annual rent obligations and eliminating future lease inflation risks. The acquisition, spanning 16 states including key markets like California and Illinois, is expected to enhance financial and operational flexibility, optimize earnings, and support long-term strategic growth. The deal was financed through a $230 million bridge facility, revolving credit line, and cash on hand.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.