AIM-quoted immersive escape rooms operator Escape Hunt (LON: ESC) is acquiring Boom Battle Bars, which offers competitive socialising activities along with drinks and food. The enlarged group will be renamed XP Factory.
The total cost is £17.38m, with £9.88m in cash and deferred consideration of up to 25 million shares. The shares are subject to an earn-out based on maximum revenues of £10.96m and there being 7 operated and 20 franchise sites in 2022. If these targets are not met, then the number of shares issued will be reduced or none will be issued if the underperformance is significant...
