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Mon 17th Jun 2019 - Puttshack hires new chief executive, raises £27m as it goes into expansion overdrive
Puttshack hires new chief executive, raises £27m as it goes into expansion overdrive: The UK leading indoor mini golf experience, Puttshack, has appointed Joe Vrankin as chief executive as the business reveals rapid expansion plans following the completion of a £27m equity raise with lead investor Promethean Investment. Vrankin joins the team as the business prepares to open two new sites in the UK in the second half of 2019, and then one every 12 weeks in the UK, beginning in 2020. Expansion in the US will see the first site open by Q2 2020, ramping up to an opening pace of one site every three weeks. The original Puttshack opened in July 2018 at Westfield London White City and is the only mini golf brand in the world which combines automatic tracking and scoring technology within the ball, resulting in significantly enhanced game play. Vrankin brings a wealth of expertise to the business with former positions including, chief executive of TopGolf and chief operating officer of Arena Football League. During his time at TopGolf, Vrankin took the one location business and built the foundation to deliver what is now a 50 plus location enterprise with a multi-billion dollar valuation. His appointment will see him join Adam Breeden, co-founder of All-Star Lanes, Bounce and Flight Club and Steve and Dave Jolliffe founders of TopGolf, on their mission to transform the international leisure and entertainment sector. The UK expansion includes new openings at Intu Lakeside for the summer of 2019 and 1 Poultry, Bank in Autumn 2019. Puttshack launched in the UK as the consumer demand for social entertainment began to soar. In its first year, Puttshack has had nearly 300,000 guests playing about 500,000 games. The White City venue is a regular spot for household names including; England footballer Raheem Sterling, KSI, Brooklyn Beckham, Krept & Konan and Davina McCall. “As competitive socialising continues to grow across the globe, I’m thrilled to be joining what I believe is one of the best businesses in the space. We’re committed to connecting technology with the traditional game of mini golf and creating unprecedented experiences for our guests,” Vrankin said. “With the completion of this £27m raise we are fully capitalised to execute on our global growth strategy at a significant pace.”

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