Hyderabad: Spice Lounge Food Works Ltd. (BSE: 539895), a fast-growing multi-format food service organization with a strong footprint across South India, has announced the acquisition of 100% shareholding in Rightfest Hospitality LLP. The strategic move marks the company’s expansion into India’s evolving experiential lifestyle and entertainment ecosystem, beyond its culinary roots.
With over 75 years of combined hospitality expertise and a 500+ member team, Spice Lounge operates leading global homegrown brands including Buffalo Wild Wings, Wing Zone, Blaze Kebabs, Tortilla, and its tech subsidiary TekSoft Systems Inc. The acquisition of Rightfest — known for its premium venues and live-music events — positions the company to tap into rising demand from affluent millennials and tourists across metros and leisure destinations.
The integration of Rightfest is expected to unlock synergies across brand development, marketing, and operations, enabling Spice Lounge to scale as a lifestyle powerhouse delivering curated experiences across dining, nightlife, and entertainment. The move also supports the company’s asset-light growth strategy and enhances its revenue diversification.
In parallel, the Board has authorized Chairman and Director Mohan Babu Karjela to analyze, evaluate, and take appropriate decisions regarding a potential acquisition of a majority stake in Blackstone Management LLC. Mr. Karjela has been empowered to negotiate investment terms and conclude the transaction in consultation with legal, financial, and strategic advisors.
Commenting on the development, Mohan Babu Karjela stated, “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.”
He added, “This integration will unlock significant synergies across brand development, marketing, and operations. We envision a scalable business model that combines our culinary expertise with Rightfest’s event-driven strengths to deliver premium, high-growth experiences and long-term stakeholder value. The Board’s decision to evaluate Blackstone Management LLC reflects our commitment to diversification and global expansion, aligning with our strategy to build a future-ready hospitality group that unites food, entertainment, and technology under one integrated ecosystem.”
