Mike Ashley-backed We Do Play buys back Boom Battle Bar for £11M
What's the deal? We Do PlayDealroom has a profile for this one. Try Dealroom →, a leisure operator backed by Mike Ashley's Frasers GroupDealroom has a profile for this one. Try Dealroom →, has acquired Boom Battle Bar for £11 million from experiential leisure group XP FactoryDealroom has a profile for this one. Try Dealroom →. The purchase returns the "competitive socialising" chain — which pairs bar service with axe-throwing, mini-golf, and augmented-reality darts — to the people who founded it.
Why now? We Do Play chief executive Richard Beese created Boom Battle Bar in 2020, and the deal marks a buyback of his own brand. "It is incredibly exciting to have our brand back," Beese said, calling it "a very special full-circle moment for us."
What's the endgame? Boom Battle Bar runs 29 UK venues, and We Do Play wants to reach 50 by the end of the decade. It plans to add "new technology, games and experiences" and target large towns and cities where it sees "significant untapped demand."
The bigger play: Ashley built his empire in discount activewear with Sports DirectDealroom has a profile for this one. Try Dealroom →, but Frasers' minor stake in We Do Play pushed it into trampoline parks and mini golf. We Do Play also owns trampoline park chain Flip OutDealroom has a profile for this one. Try Dealroom →, Laser Quest, and axe-throwing firm Rumble RoomsDealroom has a profile for this one. Try Dealroom →.
Frasers' chief acquisition officer James France earlier described the We Do Play stake as a "significant milestone in our strategy to diversify and create more dynamic consumer and leisure experiences."
The signal: The deal extends Frasers' expansion beyond retail, adding leisure to a portfolio that spans Jack WillsDealroom has a profile for this one. Try Dealroom →, Evans Cycles, Flannels, and — more recently — a stake in Hugo Boss and department store chain Harvey Nichols. As Beese put it, "the next phase of competitive socialising will be defined by stronger experiences, innovation, technology and well-invested venues."
Read more: cityam.com
Image credit: theslowlane
