Houlihan Lokey Advises Lucky Strike Entertainment

Houlihan Lokey is pleased to announce that Lucky Strike Entertainment, LLC (Lucky Strike) has been acquired by Bowlero Corp. (Bowlero). Lucky Strike is an iconic, upscale bowling and experiential entertainment brand with 14 locations across nine states. The transaction was completed on 18 September 2023.

Lucky Strike is a premier experiential entertainment brand that owns and operates bowling and entertainment centers in major flagship cities across the U.S. The company’s locations offer a high-energy atmosphere, a sophisticated menu, private event spaces, billiards, and first-class amusements. Lucky Strike opened its first location in 2003 in the highly renowned Hollywood market and has since built a prominent and well-regarded national presence. Today, it operates 14 centers across nine states, including such top markets as Boston, Chicago, Denver, Los Angeles, Philadelphia, and San Francisco.

Bowlero (NYSE:BOWL) is the global leader in bowling entertainment, media, and events. With more than 325 bowling centers across North America, Bowlero serves more than 30 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe.

Houlihan Lokey acted as the exclusive financial advisor to Lucky Strike and its shareholders. This transaction provides another successful outcome for Houlihan Lokey’s leading out-of-home practice and represents the firm’s seventh transaction in this space year-to-date in 2023 alone.