Spice Group acquires Global Access

NEW DELHI, INDIA: Spice Retail Ltd., a multi brand mobile and technology retail chain, on Thursday announced the acquisition of 'Global Access', a 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, said a press release.

Commenting on the acquisition, Dilip Modi, managing director, Spice Televentures said, “Retail in India is complex, and we being a pioneer in mobile retailing in the country realize its nuances. 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. ”

Spice Retail also has 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 Modi.

Sanjeev Mahajan, CEO, Spice Retail Ltd., 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.”