Brands
Sports & experiential ent.: PVR & Major sell bluO to Smaaash for Rs 860 mn
MUMBAI: PVR Ltd today announced that it has entered into definitive agreement with Smaaash Entertainment (‘SMAAASH’) to sell its stake in bluO entertainment, a premium bowling and entertainment format operated by the company.
As part of its national expansion plans, world class gaming and entertainment company Smaaash Entertainment has acquired 100 per cent stake in bluO entertainment (a premium bowling and entertainment format), for a consideration of approximately Rs. 860 million.
bluO is a joint venture between PVR Limited and Major Cineplex Group of Thailand in which PVR owns 51 per cent stake with balance 49 per cent stake held by Major Group. The acquisition marks the doubling of the area under Smaaash management from 276,000 square feet to approximately around 600,000 square feet in India.
The significant acquisition also adds six centres (approximately 210,000 sq. ft. of premium space) across five cities to Smaaash’s existing blueprint of seven centres in India and one in Minneapolis in the United States. The newly acquired centres will operate under Smaaash branding and two more centres are expected to open shortly. Smaaash will introduce its signature games at all bluO centres, which only had bowling before.
PVR chairman & MD Ajay Bijli said, “The sale of bluO is in line with our strategy to divest all non-core assets and focus on our core cinema exhibition business. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value and provide management a more focused approach for enhancing value in exhibition business. We are pleased to sell the business to Smaaash, which is a leader in retail and entertainment space in India and the US; and believe that they will take the business to even greater heights.”
Smaaash Entertainment chairman & CIO Shripal Morakhia said, “The strategic acquisition of bluO is a significant step in doubling Smaaash’s scale and outreach in India’s fast growing retail entertainment space. The synergies between both brands are deeply symbiotic in creating a network of centers in key cities that are designed as destinations with a relentless focus on wholesome sports, active life, and adventure for urban citizens. We are sure that bluO’s premium locations, infrastructure and F&B offerings, coupled with Smaaash leadership in innovation with new technology and virtual reality, will fill a much-needed gap for experiential entertainment in our country. We are committed to enhancing profitability and revenue per centre while being the custodian of customer smiles in these centres.”
The acquisition comes on the heels of Smaaash’s recent international success story in the Mall of America, Minneapolis, United States.
EY acted as the exclusive financial advisor to the shareholders of PVR bluO for the transaction.
Brands
Faber-Castell India appoints Sunaina Haldar as director – marketing
With stints at Tata, SleepyCat and ADF Foods under her belt, Haldar is primed to redraw Faber-Castell’s brand story
MUMBAI: Faber-Castell India has poached Sunaina Haldar from ADF Foods, appointing her director – marketing as the German stationery brand looks to muscle up in a category that is rapidly reinventing itself around creativity and self-expression.
Haldar hit the ground running. “My first couple of weeks have been incredibly energising, understanding consumers, visiting markets, engaging with retailers and immersing myself into the world of Faber-Castell Group,” she said.
She arrives with considerable firepower. At ADF Foods, Haldar ran marketing across India and international markets for a portfolio spanning Ashoka, Aeroplane, Camel and ADF Soul. Before that, she was vice-president – marketing at direct-to-consumer mattress brand SleepyCat, where she helmed brand, content and performance marketing. Her résumé also includes a stint leading marketing, new product development and CRM for Tata SmartFoodz at Tata Consumer Products, no small proving ground.
Between corporate roles, Haldar also operated as a fractional CMO for early-stage startups, building marketing strategy and operational structures from scratch, a signal that she knows how to move fast with limited resources.
With 18 years straddling FMCG, D2C and the startup world, Haldar now takes the reins at a brand that has long owned the classroom but is clearly hungry for the living room. In a stationery market where the pencil has become a lifestyle statement, Faber-Castell has picked someone who knows exactly how to sell that story.
