Business

Mitchells & Butlers sells its Hollywood Bowl business

  • 9 August 2010
  • From the section Business
Ten pin bowling
Image caption M&B is selling non-core assets

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

AMF will add Hollywood Bowl's 24 sites to its existing 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.

Last month, M&B said its rate of sales growth slowed in June and July as food sales fell during the World Cup.

'Important step'

In July, the pub group said it was making good progress towards achieving its objectives for the year.

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

Mitchells 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."

M&B has focused its business on its food offering since smoking bans were introduced in 2006 and 2007.

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