30 Jun 2017 07:00
Ten Entertainment Group plc
New site acquisition
Ten Entertainment Group plc, one of the UK's leading ten-pin bowling operators, (the "Company" or "TEG") announces the acquisition of Strike 10 Bowl in Rochdale, Greater Manchester, marking the Company's first acquisition since listing on the Main Market of the London Stock Exchange in April 2017 and its third acquisition of the year.
The acquisition follows the Company's purchase of The Lanes in Eastbourne in February and Bowlplex in Blackburn in January, both of which are undergoing TEG's 'Tenpinisation' re-development and enhancement programme and are now operating under the Tenpin brand. TEG has suggested that it will acquire two to four new sites each year, this acquisition being the third in 2017.
Ten Entertainment Group has a proven track record of integrating acquisitions through its 'Tenpinisation' strategy which provides the tools and methods to allow a rapid re-development of new sites, bringing the operations, systems and technology and customer experience, up to the high standards of the Company's wider estate.
Alan Hand, Chief Executive Officer commented:
"The completion of our third site acquisition this year is an exciting development and will grow the Group's portfolio. That we have acquired three new sites so far this year is testament to the exceptional team we have at TEG, especially following our successful listing on the London Stock Exchange's Main Market in April.
"Our two new sites at Blackburn and Eastbourne are undergoing our Tenpinisation transformation process which is proceeding in line with expectations. We now look forward to beginning the exciting process at Rochdale."
For further information:
Ten Entertainment Group plc Alan Hand, Chief Executive Officer Mark Willis, Chief Financial Officer
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