The former owner of Dave & Buster’s has acquired the 21-unit Lucky Strike games-and-food chain for an undisclosed amount.
The buyer, private-equity firm Wellspring Capital, said its experience and resources would be applied to the expansion of Lucky Strike, which currently operates in 12 states and the District of Columbia.
“Although a nationally known player today, Lucky Strike still has a large whitespace opportunity,” Alex Carles, a managing partner of Wellspring, said in a statement. That announcement noted that the New York City firm has already closed on the deal, but did not divulge additional details.
Lucky Strike features bowling lanes, video games and live music performances, along with a menu similar to what’s found in many casual-dining chains. It was founded in 2003 by Steven Foster and Kevin Troy.
Wellspring indicated that the founders will remain involved with the chain.
The private-equity firm purchased Dave & Buster’s, another fun-and-food chain, from the then-public company’s stockholders in 2006 for $375 million. It sold the concept in 2010 to another private-equity firm, Oak Hill Capital Partners, for $570 million. Dave & Buster’s was sold to the public again in 2014 and remains a public company today.
Wellspring is also the owner of a controlling interest in the Checkers and Rally's drive-thru chains.