M&B sells Hollywood Bowl
Mitchells & Butlers (M&B) has sold its 24 Hollywood Bowl sites to AMF Bowling for £39m.
The move is part of M&B's move to dispose of non-core assets and concentrate on growing its six key food-led brands such as Toby Carvery, Harvester and Vintage Inns.
M&B has sold all the operations and leasehold interests of Hollywood to AMF for a gross cash consideration of £27m. The deal is set to complete on 13 August.
It will sell the remaining freehold property interests at four of the sites for at least £12m in due course.
M&B 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."
Last week M&B announced it had sold 15 of its 80 franchised pubs to 13 franchisees, after deciding they were non-core assets.
