July 17th, 2014 | Published in Business
It was the hottest rumor making the rounds at International Bowl Expo in Orlando, and now it has been confirmed: Brunswick is getting out of the bowling business.
Expo rumors centered around Brunswick selling its bowling centers to Bowlmor AMF, a company formed when Bowlmor acquired the AMF-branded center chain.
Now, the company has announced that it also is seeking to sell its bowling products business.
The announcement was made by Brunswick Chairman and Chief Executive Officer Dustan E. McCoy, who recently announced that he would be retiring from the company sometime in 2015.
According to Thomson Reuters One, the price tag for the bowling centers was $270 million, and Brunswick said it anticipated that the sale would be completed within 90 days.
Coming momentarily: the reasoning behind Brunswick’s decision.