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Ten Entertainment buys sites in Leeds and Luton, says current trading 'strong'
Tenpin bowling company Ten Entertainment has agreed to buy two further sites in Leeds and Luton from MFA Bowl for £1.3m in cash, taking its total estate to 44.
Following completion, the company will have added four new units to its estate in FY18, in line with its guidance of two to four acquisitions for the year.
Ten said both units will benefit from "significant" investment as a result of the 'Tenpinisation' process, bringing the operations, systems and technology and customer experience up to the "market-leading standards" of its wider estate.
The company also gave a very update on its performance on Thursday, saying current trading remains strong, with first-quarter like-for-like sales up 5.1%, which it said was better than it had expected.
Chairman Nick Basing said: "These latest acquisitions are a further sign of the group's ability and opportunity to strengthen its strong national estate, in new markets with anticipated good rates of return on invested capital. We are happy with our performance so far this year."
At 1100 BST, the shares were up 3.9% to 266p.