Press Release -1. 'Spice Lounge Food Works Ltd- Announces Acquisition of Rightfest Hospitality LLP 2. Board authorises Chairman to analyse, evaluate, and take an appropriate decision ....
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Spice Lounge Food Works Ltd (BSE: 539895), a Hyderabad-based food service company operating brands like Buffalo Wild Wings, Wing Zone, Blaze Kebabs, and Tortilla, has announced the acquisition of 100% of Rightfest Hospitality LLP. Rightfest, founded in 2022, runs premium lifestyle venues such as XORA Bar & Kitchen in Hyderabad and SALUD beach club in Goa, and has hosted over 1.6 lakh patrons. The move marks a shift beyond food service into the experiential lifestyle and entertainment space, targeting affluent millennials and tourists. Separately, the Board has authorized Chairman Mohan Babu Karjela to evaluate and potentially acquire a majority stake in Blackstone Management LLC, an international hospitality group active in Europe and the Middle East.
This signals aggressive growth via inorganic expansion — moving from a food-only business into entertainment, nightlife, and international hospitality. Short-term stock sentiment may turn positive on the growth narrative, but the Blackstone deal is still at the evaluation stage with no confirmed terms.