Key facts
- Frasers Group, backed by Mike Ashley, has acquired Boom Battle Bar for up to £11 million.
- XP Factory will use the £5 million upfront payment to reduce debt and fund working capital.
- XP Factory aims to reach at least 50 UK Escape Hunt sites by March 2031.
- Boom Battle Bar's revenue increased 2% to £42.8m in the year ended March 29, 2026.
- Like-for-like sales at Boom Battle Bar fell 8% in the same period.
- Escape Hunt's revenue rose 11% to £15.8m, with UK like-for-like sales up 4.6%.
Frasers Group, a company backed by retail tycoon Mike Ashley, has acquired Boom Battle Bar for up to £11 million, expanding Ashley's footprint in the leisure and hospitality sector. The deal was announced on September 28.
XP Factory, the seller, stated that the disposal is a strategic step to focus exclusively on the growth of its Escape Hunt concept. The company will receive an upfront cash consideration of £5 million, which will be used to reduce bank net debt and fund its working capital and growth program. An additional up to £6 million may be received from sales and EBITDA earn-outs over the next three years.
XP Factory aims to support its target of reaching at least 50 UK-owned Escape Hunt sites and sales of at least £30 million by the end of March 2031, with a long-term potential of over 100 sites. The company noted that Boom Battle Bar has faced challenging market conditions, with underlying revenue increasing 2% to £42.8 million for the year ended March 29, 2026, while like-for-like sales fell 8%. In contrast, Escape Hunt saw revenue rise 11% to £15.8 million, with UK like-for-like sales increasing 4.6% and strong site-level EBITDA margins of 42%.
Richard Harpham, chief executive of XP Factory, described the transaction as an important milestone, highlighting Boom Battle Bar's strong brand and scaled estate, and believing it is well-positioned for market recovery. He added that the disposal allows XP Factory to sharpen its focus on Escape Hunt, which has demonstrated consistent and attractive returns and holds a clear leadership position in the UK with significant growth potential.