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Definitive agreement signed to acquire Mavrix and Octane Raceway

RICHMOND, VA — Bowlero Corp. (NYSE: BOWL), the global leader in bowling entertainment, announced today they have entered into a definitive agreement to acquire Mavrix and Octane Raceway in Scottsdale, Arizona. This transaction is expected to close at the end of August 2023, and will be funded through an all cash transaction.

The acquisition of Mavrix and Octane Raceway will mark the company’s 19^th and 20^th locations in Arizona. Mavrix is an entertainment destination showcasing 22 lanes of bowling, a laser tag arena, an expansive arcade with over 85 games, a full-service restaurant, and multiple sports bars. Octane Raceway, also located in the Pavilions at Talking Stick, is one of the most advanced go-kart raceways in the United States featuring a year-round indoor/outdoor track. This venue is home to Velocity VR, interactive axe throwing, and the Brickyard Grill. Both locations combined are over 100,000 square-feet which includes an outdoor patio, equipped with a state-of-the-art entertainment experience.

“The acquisitions of Mavrix and Octane Raceway align seamlessly with our commitment to providing premium and immersive experiences to our guests,” stated Thomas Shannon, Founder, President and CEO of Bowlero Corp. “Our decision to incorporate these dynamic venues in our growing portfolio exemplifies the company’s dedication to furthering our position as the leader in the entertainment space.”