British sports and fashion group Frasers is broadening its horizons by taking a minority stake in We Do Play, an operator of miniature golf courses and trampoline parks, among other amusement parks. Entrepreneur Mike Ashley sees plenty of potential synergies.
“Perfect synergies”
Frasers has not revealed the size of the investment, but did outline a clear ambition. “We Do Play’s innovative brands align perfectly with our vision of a modern, experiential consumer ecosystem,” Reuters quotes Chief Acquisition Officer James France. The partnership should offer “perfect synergies” with the existing portfolio, including the Sports Direct chain.
We Do Play operates various types of sports and gaming venues, including trampoline playgrounds under the Flip Out name and Putt Putt Social miniature golf courses. Moreover, the company plans to open over 40 more locations of its Activate game parks in the United Kingdom over the next few years.
The investment is part of Frasers’ broader strategy, which has been investing heavily in a variety of sectors in recent months. For example, the group recently tried to gain board control of Debenhams and there was an unsuccessful attempt to acquire bag maker Mulberry. With its stake in We Do Play, Frasers is betting on the fast-growing leisure market, as experiences and social interaction are playing an increasing role in consumer spending.
