Disposal of Hollywood Bowl

RNS Number : 7269Q

Mitchells & Butlers PLC

09 August 2010

 



9 August 2010

Mitchells & Butlers plc

Disposal of Hollywood Bowl

Mitchells & Butlers announces the disposal of Hollywood Bowl at a value of £39m.

The Company has sold all the operations and leasehold interests of Hollywood Bowl to AMF Bowling for a gross cash consideration of £27m.  This transaction is expected to complete on 13 August 2010.

The Board will also sell the remaining freehold property interests in four of the sites for at least £12m in due course.

Commenting on the transaction Adam Fowle, Chief Executive, said:

"This further disposal of non core assets is another important step towards focusing the business on our market leading growth brands."

For further information please contact:

Corporate Affairs:
Erik Castenskiold	0121 498 6513
Media:
James Murgatroyd (Finsbury Group)	0207 251 3801

Notes to editors

-	Hollywood Bowl operates 24 tenpin bowling sites in the UK.
-	Mitchells & Butlers' leading portfolio of brands and formats includes Harvester, Toby Carvery, Vintage Inns, Premium Country Dining Group, Crown Carveries, Sizzling Pub Co., Browns, Miller & Carter, Metro Professionals, All Bar One, Nicholson's and O'Neill's.  Further details are available on www.mbplc.com http://www.mbplc.com.
-	Mitchells & Butlers serves around 130 million meals and 575 million drinks each year and is one of the largest operators within the UK's £70 billion eating and drinking out market.

 

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