Bowlero Strikes $2.6B Valuation via SPAC Merger

The largest bowling center owner and operator in North American is going public.

Bowlero Corporation announced plans to go public on Wednesday through a merger with SPAC Isos Acquisition Corp. The combined entity is valued at roughly $2.6 billion — Isos raised $225 million in an IPO earlier this year — and includes a $450 million private investment in public equity.

Bowlero owns and operates around 300 bowling centers in North America, nearly eight times more than its next competitor. 

• The bowling industry has more than 3,500 independent operators and is the largest participatory sport in the U.S. — approximately 70 million people bowl each year .
• The U.S. bowling market has grown 50% over the last decade to $4.5 billion, with the global market at $11 billion.
• More than 26 million people bowled at a Bowlero center in the year ending February 2020.

Bowlero president and CFO Brett Parker says revenue has rebounded as pandemic capacity restrictions are lifted.

The company expects revenue to reach around $859 million in 2022.

Bowlero acquired Bowl America in April and purchased the Professional Bowlers Association in 2019.