Lucky Strike buys 58 properties, refinances $1.7B debt; Q3 profit falls 7% on flat sales

Filed May 6, 2026 · Period ending March 29, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Acquired 58 leased properties from Carlyle for $306M, eliminating lease obligations and converting rent expense to owned real estate—a major balance-sheet restructuring.

  MD&A: Carlyle property acquisition verify on EDGAR →
• high

  Refinanced debt with $1.2B term loan, $500M of 7.25% notes, and $425M revolver; lower term-loan rates offset by new note interest and revolver draws.

  MD&A: debt refinancing verify on EDGAR →
• high

  Adjusted EBITDA fell 7% to $109M as same-store sales stayed flat; operating costs rose 8% and payroll 7%, outpacing revenue growth driven by acquisitions.

  MD&A: Adjusted EBITDA decline verify on EDGAR →