Spice Group acquires Global Access
~’Spice Group announces further expansion plans; looking South for 2nd acquisition within a year’~
New Delhi; 21st Jan’10: Spice Retail Ltd., the pioneering and leading Multi Brand
Mobile & technology retail chain, today announced acquisition of ‘Global Access’, a
prominent Karnataka-based retail chain. This acquisition will move Spice Retail to a
dominant position to the tap the state as well as the regional market.
Commenting on the acquisition Mr. Dilip Modi, Managing Director, Spice Televentures
said, “Retail in India is complex; and we being a pioneer in mobile retailing in the
country realise its nuances. The completion of this acquisition represents a significant
step for us in our growth strategy. Global Access has been a strong regional brand.
This acquisition will bring in presence, expertise and experience of their retail business
in the region and unleash a force multiplier that generates value for the business as
well as for the customer across segments. This is but a step towards a larger goal”.
Spice Retail also has aggressive expansion plans, aiming to reach its audiences in
many more ways than just mobility and IT products. It will soon be adding products in
categories like imaging, gaming etc which will be supplemented by various other
innovative services & products.
“This acquisition along with our recent acquisition of Cellucom aims to improve the
retail capillarity of the organization. It also reaffirms our commitment towards the
sector and helps us boost our customer profile with an increase in reach and
enhancement of the product portfolio.” added Mr. Dilip Modi.
Mr. Sanjeev Mahajan, CEO, Spice Retail Ltd. commenting on the acquisition said, “As
we embark upon yet another milestone in our quest for retail excellence, we welcome
the employees of Global Access to the Spice family and look to working closely with
them for creating value for the customer.”
About Spice Televentures & Spice Retail
Spice Televentures is part of the Dr. BK Modi-led Spice Group (a conglomerate in
Telecom, Technology, Entertainment & Financial Services verticals). The Spice Group
has a long and rich 30-year history in pioneering products and services in technology,
automation, IT and telecoms in the Indian market. Spice Televentures is a part of Spice
Group. Spice Televentures manages and operates the interests of Spice in the domain
of Mobile devices (Spice Mobiles), Mobile Value Added Services (Spice Digital),
Application Development (Spice Labs), Mobile & Tech Products Retail (Spice Retail) &
Enterprise Managed Services (Spice BPO).
Spice Retail is a leading mobile & technology-product retailer, voted the best in
Customer Service by Mint-Pitch and voted the Best Large Format Retailer in North India
by Voice & Data.
For further information, please contact:
Vivek Sabharwal, LINOpinion - The Lintas PR Division
(0) 9811546419, vivek.sabharwal@loweworldwide.com