AMF sells in the UK.
- Thread starter willey
- Start date
Graham
Staff member
http://biz.yahoo.com/prnews/040930/nyth199_1.html
AMF Sells UK Bowling Centers
Thursday September 30, 9:03 pm ET
RICHMOND, Va., Sept. 30 /PRNewswire/ -- AMF Bowling Worldwide, Inc. announced today that it sold AMF Bowling UK, its 33 bowling centers in the United Kingdom, to certain shareholders of Bourne Leisure. Terms of the transaction were not disclosed.
ADVERTISEMENT
AMF Bowling UK is the second largest bowling center chain in the United Kingdom and has been part of AMF since it opened its first bowling center in the UK in the 1960s. Following a thorough evaluation, AMF Bowling Worldwide decided to sell its UK center business.
"We think that selling our UK centers will be positive for everyone involved," said Fred Hipp, AMF Bowling Worldwide's President and CEO. "The UK center business will now be owned by an investor with a strategic interest in the UK leisure sector, and AMF will be able to bring more focus to management of its core U.S. center and bowling products businesses."
AMF Bowling Worldwide, Inc. was advised on the transaction by Livingstone Guarantee in the UK and Brown Gibbons Lang in the US. The shareholders of Bourne Leisure were advised by Rothschild.
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http://www.timesonline.co.uk/article/0,,2095-1290821,00.html
Bourne’s bosses go bowling for £40m
TWO multi-millionaire shareholders in Bourne Leisure, the holiday firm that owns Butlins and Haven, have bought ten-pin bowling chain AMF Bowling for an estimated £40m, writes Matthew Goodman.
John Cook and Peter Harris have bought the chain from its US parent AMF Bowling Worldwide, owned by the US private-equity group Code Hennessy & Simmons (CHS).
Sources said Cook and Harris wanted to buy AMF because the customer base was broadly similar to that enjoyed by Bourne. “There is a lot of opportunity to use Bourne’s knowhow to run AMF,” said one source close to the pair.
CHS is selling AMF’s non-American operations to concentrate on its domestic business. Livingstone Guarantee, the boutique advisory firm, was appointed in the summer to sell the British arm.
The Bourne shareholders,advised by NM Rothschild, the investment bank, beat stiff competition from trade bidders and private-equity firms to win the auction.
Meanwhile, L&G Ventures, which recently sold its stake in Bourne Leisure, is one of several private-equity groups bidding for GB Holiday Parks, a caravan park group valued at up to £100m.
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http://www.timesdispatch.com/servlet/Satellite?pagename=RTD%2FMGArticle%2FRTD_BasicArticle&c=MGArticle&cid=1031778294440&path=!business&s=1045855934855
AMF sells U.K. bowling centers; price undisclosed
Richmond Times-Dispatch
Oct 2, 2004
AMF Bowling Worldwide Inc. has sold its bowling centers in the United Kingdom.
The Mechanicsville-based company said yesterday it sold the 33 centers of AMF Bowling UK to certain shareholders of Bourne Leisure, a British company that owns hospitality and recreation properties. Terms were not disclosed.
AMF has owned bowling centers in the United Kingdom since the 1960s. The company was the second-largest operator of bowling centers there.
The company said it remains the world's largest owner and operator of bowling centers. AMF was purchased in February by an affiliate of the Chicago-based equity firm Code, Hennessy & Simmons LLC, almost two years after the company emerged from Chapter 11 bankruptcy protection.
Click here to visit ChesterfieldDodge.com.
Fred Hipp, AMF's president and chief executive officer, said the sale of the U.K. centers is a "positive for everyone involved."
"The UK center business will now be owned by an investor with a strategic interest in the UK leisure sector, and AMF will be able to bring more focus to management of its core U.S. center and bowling products businesses," Hipp said in a statement. John Reid Blackwell
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AMF Sells UK Bowling Centers
Thursday September 30, 9:03 pm ET
RICHMOND, Va., Sept. 30 /PRNewswire/ -- AMF Bowling Worldwide, Inc. announced today that it sold AMF Bowling UK, its 33 bowling centers in the United Kingdom, to certain shareholders of Bourne Leisure. Terms of the transaction were not disclosed.
ADVERTISEMENT
AMF Bowling UK is the second largest bowling center chain in the United Kingdom and has been part of AMF since it opened its first bowling center in the UK in the 1960s. Following a thorough evaluation, AMF Bowling Worldwide decided to sell its UK center business.
"We think that selling our UK centers will be positive for everyone involved," said Fred Hipp, AMF Bowling Worldwide's President and CEO. "The UK center business will now be owned by an investor with a strategic interest in the UK leisure sector, and AMF will be able to bring more focus to management of its core U.S. center and bowling products businesses."
AMF Bowling Worldwide, Inc. was advised on the transaction by Livingstone Guarantee in the UK and Brown Gibbons Lang in the US. The shareholders of Bourne Leisure were advised by Rothschild.
----------------------------------------------------------
http://www.timesonline.co.uk/article/0,,2095-1290821,00.html
Bourne’s bosses go bowling for £40m
TWO multi-millionaire shareholders in Bourne Leisure, the holiday firm that owns Butlins and Haven, have bought ten-pin bowling chain AMF Bowling for an estimated £40m, writes Matthew Goodman.
John Cook and Peter Harris have bought the chain from its US parent AMF Bowling Worldwide, owned by the US private-equity group Code Hennessy & Simmons (CHS).
Sources said Cook and Harris wanted to buy AMF because the customer base was broadly similar to that enjoyed by Bourne. “There is a lot of opportunity to use Bourne’s knowhow to run AMF,” said one source close to the pair.
CHS is selling AMF’s non-American operations to concentrate on its domestic business. Livingstone Guarantee, the boutique advisory firm, was appointed in the summer to sell the British arm.
The Bourne shareholders,advised by NM Rothschild, the investment bank, beat stiff competition from trade bidders and private-equity firms to win the auction.
Meanwhile, L&G Ventures, which recently sold its stake in Bourne Leisure, is one of several private-equity groups bidding for GB Holiday Parks, a caravan park group valued at up to £100m.
----------------------------------------------------------
http://www.timesdispatch.com/servlet/Satellite?pagename=RTD%2FMGArticle%2FRTD_BasicArticle&c=MGArticle&cid=1031778294440&path=!business&s=1045855934855
AMF sells U.K. bowling centers; price undisclosed
Richmond Times-Dispatch
Oct 2, 2004
AMF Bowling Worldwide Inc. has sold its bowling centers in the United Kingdom.
The Mechanicsville-based company said yesterday it sold the 33 centers of AMF Bowling UK to certain shareholders of Bourne Leisure, a British company that owns hospitality and recreation properties. Terms were not disclosed.
AMF has owned bowling centers in the United Kingdom since the 1960s. The company was the second-largest operator of bowling centers there.
The company said it remains the world's largest owner and operator of bowling centers. AMF was purchased in February by an affiliate of the Chicago-based equity firm Code, Hennessy & Simmons LLC, almost two years after the company emerged from Chapter 11 bankruptcy protection.
Click here to visit ChesterfieldDodge.com.
Fred Hipp, AMF's president and chief executive officer, said the sale of the U.K. centers is a "positive for everyone involved."
"The UK center business will now be owned by an investor with a strategic interest in the UK leisure sector, and AMF will be able to bring more focus to management of its core U.S. center and bowling products businesses," Hipp said in a statement. John Reid Blackwell
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Brunswick Tech
Banned
I believe A.M.F are in financial trouble worldwide, its only a matter of time before they start selling off some of there cenres in Aust and I wouldn't be surprised to see A.M.F pull out of Aust completely with in the next 5 years.
A.M.F are trying real hard to be a success in Aust but tenpin bowling will NEVER be as popular as it is in the U.S
Some sports are traditional to specific countries, these sports have mass participation rates and attract life long fans
For example soccer in the U.K has a nationwide following, yet it hardly rates a mention in Aust. Tenpin bowling WILL never have the participation rates in Aust to maintain the bowling centres we have now.
The majority of tenpin centres in Aust are barely breaking even
A.M.F are trying real hard to be a success in Aust but tenpin bowling will NEVER be as popular as it is in the U.S
Some sports are traditional to specific countries, these sports have mass participation rates and attract life long fans
For example soccer in the U.K has a nationwide following, yet it hardly rates a mention in Aust. Tenpin bowling WILL never have the participation rates in Aust to maintain the bowling centres we have now.
The majority of tenpin centres in Aust are barely breaking even
J
Jay_212
Well AMF has already begun selling off centres in Australia. Maitland, Bennetts Green, and i think even Mayfield will probably soon go under. Bankstown, i know its moving but will it remain AMF??
Bennetts Green closed down today??
Bennetts Green closed down today??
Tiger
Active Member
pintech said:
1) That is true, but bowling in Australia was very popular as late as 15 years ago, since then people have either been priced out of the game, or do not like the direction in which the game has been headed and gone walkabout.
2) Australian bowling had its lifelong devotees (not as many as the US, granted) but they either got too old, died, or couldn't afford to keep playing. It's pretty sad to see how the ladies leagues on a weekday have fallen away in the last decade or so, I remember up until the very early nineties, most were very strongly participated in.
A lot of that too can be associated with changes in living circumstances, having to find a job, mortgages etc.
3) English Football gets (or GOT) a reasonable coverage in the media here, until this year when SBS lost the rights to show the EPL magazine and live matches on its network, to FOX.
Unless you have FOX (which I don't, but my girlfriend has) you won't see anything of it on free-to-air. :x
4) Absolutely right. The number of centres around now were good for the 1980's, but now bowling's lost its working class appeal (from where the majority of participants in this game came from) and become rather expensive, and in a lot of cases, gimmicky - we do have an over-abundance of centres.
Although, having said that, I feel that the game is in a bit better shape than it was five years ago. Back in those days there was this stupid policy of fobbing off league and tournament players in favour of cosmic players :roll:
I saw it destroy some of the better participated in leagues here.
Just my $1.57 worth
Brunswick Tech
Banned
What a shame that A.M.F has started to cut its losses and close down some of their centres.
Tiger you certainly have a point about the ladies leagues during the day, I can remember when we had 4 man teams (ladies) leagues right across the house, first league bowled at 9 a.m and a full house second league bowling at 11.30 a.m followed by a school or senior league and then junior leagues after school hours.
Many people blamed the economic situation on dwindling ladies leagues, no longer can the lower to middle class famlies afford to bowl without a second income, I know a lot of ladies who did bowl have now returned to the work force to make ends meet.
Traditionally league bowlers come from these lower to middle class societies the upper class may bowl socially on occassions but rarely does tenpin bowling appeal to these people.
Cosmic bowling I agree also had a negative affect on league bowlers, no longer did the general public consider tenpin bowling as a legitimate sport but regarded it as an occassional entertainment outlet.
I also believe that the majority of bowling centres now have bars serving alcohol and many people will disagree with me but I also believe this has had a nagative effect on how bowling centres are percieved by the general public
Should our league bowlers be seen drinking before, during and after competing in competition sport? Can somebody show me another sport where its quite acceptable to be drinking alocohol during competition. I know people are going to say alcohol is available at most sporting venues but have you ever seen a sportman at half time coming off the field to have a beer? Do tennis players have a few beers between sets?
If your going to promote tenpin bowling as a sport its a conflict of interest to also serve alcohol as this will influence the parents of our future bowlers to regard tenpin bowling as a less than attractive sport for their children to participate in.
And finally I suspect the biggest problem facing the tenpin bowling industry is the evidence of social disengagement, that the consumeers may be losing their desire and ability to affilate with others, their inclination to join social organisations and participate in group activities, and their willinglness to trust one another has dramatically declined over the past decede
Shawn
Tiger you certainly have a point about the ladies leagues during the day, I can remember when we had 4 man teams (ladies) leagues right across the house, first league bowled at 9 a.m and a full house second league bowling at 11.30 a.m followed by a school or senior league and then junior leagues after school hours.
Many people blamed the economic situation on dwindling ladies leagues, no longer can the lower to middle class famlies afford to bowl without a second income, I know a lot of ladies who did bowl have now returned to the work force to make ends meet.
Traditionally league bowlers come from these lower to middle class societies the upper class may bowl socially on occassions but rarely does tenpin bowling appeal to these people.
Cosmic bowling I agree also had a negative affect on league bowlers, no longer did the general public consider tenpin bowling as a legitimate sport but regarded it as an occassional entertainment outlet.
I also believe that the majority of bowling centres now have bars serving alcohol and many people will disagree with me but I also believe this has had a nagative effect on how bowling centres are percieved by the general public
Should our league bowlers be seen drinking before, during and after competing in competition sport? Can somebody show me another sport where its quite acceptable to be drinking alocohol during competition. I know people are going to say alcohol is available at most sporting venues but have you ever seen a sportman at half time coming off the field to have a beer? Do tennis players have a few beers between sets?
If your going to promote tenpin bowling as a sport its a conflict of interest to also serve alcohol as this will influence the parents of our future bowlers to regard tenpin bowling as a less than attractive sport for their children to participate in.
And finally I suspect the biggest problem facing the tenpin bowling industry is the evidence of social disengagement, that the consumeers may be losing their desire and ability to affilate with others, their inclination to join social organisations and participate in group activities, and their willinglness to trust one another has dramatically declined over the past decede
Shawn
