Macquarie Leisure Trust Group has successfully completed an institutional bookbuild to fund the $US45 million ($A59 million) acquisition of Main Event Entertainment in the United States.
The bookbuild raised $70.5 million at $2.70 per stapled security and was strongly supported by a range of existing securityholders and new institutions from Australia and Asia.
Macquarie Leisure’s chief executive officer Greg Shaw said there was strong investor support for the acquisition and its growth potential.
“Our existing expertise in Main Event’s core operations of bowling, food and beverage and amusement games makes it a strong strategic fit with higher earnings and distributions expected,” he added.
The transaction marks Macquarie Leisure’s first foray into the global leisure market with the acquisition of an established, well-managed and resourced business.
Main Event is one of the largest operators of indoor family entertainment centres in North America’s southwest with six sites in Dallas, Fort Worth, Austin and Houston Texas plus two new sites, which are due to open in 2007.
By Adam Parsons
