Dave & Buster’s bought Main Event merging the two companies in an all-cash deal worth $835 million. The two companies will operate as separate entities while focusing on their core demographic.
Main Event caters to children and families with bowling, laser tag, and virtual games, while Dave and Buster’s focuses on young adults and sports enthusiasts who enjoy drinks, food, and watching live sports events.Â
Michael Quartieri, Dave & Buster’s Chief Financial Officer, told Dallas News, “Our expectation is that very little will change for our store teams. Long-term, we expect this merger to create more opportunities for career growth and development as team members and managers may have an opportunity to transfer across concepts and new geographic areas.”Â
Main Event CEO Chris Morris will lead the newly-combined company when the deal closes later this year. Morris joined Main Event in 2018 and expanded the entertainment complex’s footprint by 30%. Morris was formerly the president of California Pizza Kitchen and the Chief Financial Officer of On The Border.Â
“As we have come to know Chris Morris, we have been very impressed by his execution capabilities and focus on profitable growth,” said Dave & Buster’s Board Chair and Interim Chief Executive Officer Kevin Sheehan in a press release. “Chris is a proven and successful transformational leader who is capable of taking the new organization to the next level.”
There will be 195 locations across the United States and Canada with the completion of this merger. In Dallas-Fort Worth, there are five Dave and Buster’s locations and seven Main Events.Â
According to Dallas News, Quartieri stated the newly-merged company would continue to invest in new stores and work to boost sales at current locations.
“We are thrilled to welcome Main Event to the Dave & Buster’s family,” said Sheehan. This is a transformational combination for both brands.”
