Spice Lounge Food Works Ltd (BSE: 539895)is a fast-growing multi-format food service organization with a strong presence across South India. With over more than 75 years of combined hospitality expertise and a 500+ member team, the Company — which operates
leading global homegrown brands including Buffalo Wild Wings, Wing Zone, Blaze Kebabs, Tortilla, and the subsidiary TekSoft Systems Inc., announced that its Board of Directors has approved the acquisition of 100% of the shareholding of Rightfest Hospitality LLP, marking a strategic expansion in India’s rapidly evolving casual dining, quick-service, and tech-enabled food experience space.
Commenting on the development, Mr. Mohan Babu Karjela, Chairperson and Director of Spice Lounge Food Works Ltd, said: “The acquisition of Rightfest Hospitality LLP marks a defining milestone in our journey to build a multi format, experience-led food and hospitality company. Rightfest has consistently demonstrated creativity and excellence in curating destinations that go beyond dining — delivering
lifestyle experiences that deeply connect with today’s aspirational Indian audience.
This move is more than just an acquisition of an entertainment venue operator for the Company as it signals a deliberate horizontal expansion beyond its culinary roots into the fast-growing experiential lifestyle ecosystem. By leveraging Rightfest’s strong brand, live-music events and premium venue assets, the company aims to capitalise on rising demand from affluent millennials and tourists across metros and leisure destinations.
With this strategic move, Spice Lounge Food Works Limited positions itself to scale not just as a food service player but as all-encompassing lifestyle powerhouse; delivering curated experiences across dining, nightlife and entertainment while unlocking higher growth and asset light revenue opportunities.
Board authorised Mr. Mohan Babu Karjela, Chairman and Director, to analyse, evaluate and take an appropriate decision on behalf of the Company regarding the potential acquisition of a majority stake in Blackstone Management LLC. Mr. Mohan Babu Karjela has been empowered to negotiate investment terms, and conclude the transaction in consultation with legal, financial, and strategic advisors.