Hollywood Bowl plans £280m stock market flotation

Hollywood Bowl, the UK's largest ten-pin bowling operator, has announced that it will float on the London Stock Exchange in July.

The listing, which will value the firm at around £280 million, will see its private equity owner Electra sell down about half of its 85% stake.

Electra acquired the firm in 2014 for £91 million and has presided over a period of steady growth.

Last year, the group's 54 centres helped deliver a 9% increase in revenues to £86 million while earnings increased 41% to £20.6 million.

Chief executive Stephen Burns said: "We are very excited about the next stage in the development of Hollywood Bowl Group, and believe we have all the attributes to succeed as a listed business.

"The IPO will allow us to continue to build the momentum of the business, providing a solid platform for further growth."

Mr Burns and other members of the management team will also sell part of their stake in the company.