(Reuters) -British sportswear and fashion retailer Frasers said on Wednesday it has entered the leisure activity market with the acquisition of a minority stake in We Do Play, the operator of Rumble
Frasers Expands into UK Leisure Market with We Do Play Investment
Frasers' Strategic Move into Leisure Activities
(Reuters) -British sportswear and fashion retailer Frasers said on Wednesday it had entered the leisure activity market with the acquisition of a minority stake in We Do Play, the operator of gaming and socialising venues Activate and Rumble Rooms.
Frasers, owned by British retail tycoon Mike Ashley, did not disclose the size of its investment, but said the partnership with We Do Play offered synergies for its existing portfolio, which includes retailer Sports Direct.
The company has been investing heavily in newer geographies and taking or increasing shareholding in recent months across companies, from fashion groups to electrical retailers. It even sought board control at Debenhams and tried buying luxury handbags maker Mulberry.
Details of the Investment
"We Do Play's innovative brands align perfectly with our vision for a modern, experience-led consumer ecosystem," said Frasers Chief Acquisition Officer James France.
Future Plans for Activate Locations
We Do Play also operates other immersive social spaces such as adventure and trampoline parks Flip Out and theme-based mini-golf venture Putt Putt Social.
Frasers said it plans to launch more than 40 Activate locations across the UK in the coming years.
(Reporting by Unnamalai L and Yamini Kalia in Bengaluru; Editing by Janane Venkatraman and Rashmi Aich)
