Hospitality entrepreneur Luke Johnson has completed the acquisition of the UK cinema and leisure operator, the Light.
Johnson’s Risk Capital Partners, known for backing Tortilla and All Star Lanes, has acquired the business in partnership with Melcorpo, which provided co-investment for the deal.
The Light operates 13 cinema and entertainment venues that feature a range of attractions, including bowling alleys, mini golf, climbing walls, and a diverse food and drink offering.
Since its launch in 2007, The Light has established venues in various locations, including Addlestone, Sheffield, Stockport, Cambridge, Redhill, and Bolton. The company has several upcoming developments, including plans to transform an old department store into a new entertainment venue.
The deal includes a new banking facility that will allow the business to invest more than £15 million over the next two years, with the goal of doubling its size.
This acquisition follows Johnson's recent sale of contract caterer Genuine Dining to Westbury Street Holdings last month, marking the end of a 14-year investment period.
Johnson said: “I have spent 40 years building businesses in the leisure and hospitality sectors, ranging from Pizza Express to Gail’s. We think the combination of cinema together with competitive socialising is a compelling offer for both consumers and landlords and believe the disruption facing the cinema industry provides opportunities.
“The Light model offers a long-term, exciting solution to the challenges facing high street and existing cinema locations rather than short term fixes.”
The Light was previously supported by Connection Capital, an investment firm.
