Brunswick completes sale of retail bowling business to Bowlmor AMF

LAKE FOREST, Ill. –– Brunswick Corporation announced that it has completed the previously announced sale of its Retail Bowling business to Bowlmor AMF for $270 million.

In a related strategic action, Brunswick continues the process of selling its Bowling Products business in a separate transaction.

As previously stated, Brunswick anticipates net proceeds from both these divestitures and associated actions to be approximately $270 million to $290 million, which reflects the Company’s current estimates for taxes and liabilities.  Brunswick believes its best opportunity to increase shareholder value is to use these net proceeds to strengthen its Marine and Fitness segments. Further, the Company plans to consider the following: increasing the quarterly dividend, accelerating contributions to the Company’s underfunded pension plans as part of its de-risking strategy, and establishing a share repurchase program.