In another landmark move, SMAAASH, India’s much-acclaimed world class gaming and entertainment brand has today acquired a 100% stake in SVM Bowling and Gaming, a popular bowling and entertainment format operated by SVM Private Limited.
Following up to last fortnight’s acquisition of PVR’s bluO, with the acquisition of SVM Bowling and Gaming, SMAAASH plans to unfold a new chapter by becoming the top player in the active entertainment space.
The acquisition will add 13 centers to SMAAASH’s blueprint in India, across Hyderabad, Mysore, Madurai, Vijaywada, Mangalore and Pune, and SMAAASH will introduce its signature games at all locations.
The deal is part of the national growth strategy, and SMAAASH will now be present in 26 centers across 13 cities in India, besides the one in the Mall Of America – the largest mall in the USA.
Both the recent acquisitions of PVR bluO and SVM provide dominant market leadership to brand SMAAASH, and a ubiquitous presence in the best malls in the country.
SVM's strategy in Tier B and C towns and cities is what attracted SMAAASH to the proposition, and their strong market relationships and customer-focused approach present a fantastic geographic, strategic and cultural fit for SMAAASH.
Commenting on the deal, Shripal Morakhia, Founder and Chief Imagination Officer, SMAAASH Entertainment Private Limited, said, “Our endeavour is to provide aspirational active experience and sports throughout India, whether it is a big metropolis or a small town. We are totally committed to “un-pause” the play button of all Indians. As consumer behaviours and expectations continue to be reshaped by experiences, we are sure that SVM's infrastructure, coupled with SMAAASH's leadership in innovation will make this association unlock transformational synergies in the gaming space.”
Commenting on the deal, Vijayender Tulla, Promoter and Chairman, SVM Group, said, “The gaming and entertainment business will benefit greatly from consolidation, as the scale significantly enhances operational efficiencies and brand value. I am sure the market leader SMAAASH will harness the learnings and experience of the SVM model to take their customer experience, growth and profitability to new heights. The transaction would enable us to focus more on our malls, multiplexes and medical sector businesses. I have been invited to be part of SMAAASH Board and I look forward to being part of the SMAAASH family and working with the team.”
Fractal Capital acted as the sole advisor to SMAAASH for the PVR bluO and SVM deals.