By Ian Walker
ACQUIRER: Hollywood Bowl Group PLC
TARGET: Three Canadian-based bowling businesses–HLD Investments Inc., Mountain View Bowl Inc and Wong and Lewis Investments Inc.
PRICE: 7.5 million pounds (US$9 million).
FINANCING: Funded via existing cash resources.
RATIONALE: The acquisition supports the group’s growth strategy in the fragmented Canadian market and will build on the strong progress already being made by Splitsville, the group’s first acquisition in Canada last year.
STOCK MOVE: Shares at 0820 GMT were up 1.50 pence, or 0.6%, at 239.0 pence.
Write to Ian Walker at ian.walker@wsj.com