Punch Bowl Social dives deeper into ‘eatertainment’ via acquisitions
Punch Bowl Social has made three acquisitions as part of its evolving multi-brand strategy.
The company, combines made-from-scratch food and craft cocktails with an array of social games and activities, has acquired Voicebox Karaoke, which combines karaoke entertainment and food and beverage. An early innovator in private suite-based karaoke, Voicebox currently has two locations in Portland, Ore.
Punch Bowl has also acquired Sweet Tooth Hotel, an immersive art experience in Dallas. The ticketed experience features curated, original installations by emerging artists that guests can explore and engage with before enjoying eclectic drinks and live entertainment in the attached cocktail lounge.
“Punch Bowl Social pioneered what has become known as eatertainment,” said said executive Chairman and co-founder Robert Cornog Jr. “Since Punch Bowl’s launch in 2012, consumer demand has fueled the proliferation of concepts and competition and created an industry that serves consumers in a variety of unique, compelling ways. These acquisitions give us the opportunity to engage with guests across a broader spectrum of eatertainment experiences.”
The addition of the Sweet Tooth Hotel and Voicebox Karaoke brands will also provide the company with a very differentiated real estate strategy. The average Punch Bowl Social location is 25,000 sq. ft., while the real estate needs for Sweet Tooth Hotel and Voicebox is closer to 5,000 sq. ft.
In connection with its acquisition of Voicebox, Punch Bowl has acquired Lyrical Systems, the developer of the software that runs the karaoke system for Voicebox and other karaoke purveyors nationwide, including Punch Bowl.
Each of the acquisitions is a part of a strategic vision for Punch Bowl that allows it to serve guests in each eaterntainment vertical, the company stated, adding that the strategy is based on extensive consumer research that identified key insights about current consumers and how to satisfy the “seemingly insatiable” desire for the hybrid experience that is eatertainment.
“With these acquisitions, we’ve been able to create a unique, market-leading platform for immersive, experiential fun that resonates with our audience,” Cornog said. “With our evolved portfolio, we know that Punch Bowl Social offers a variety of one-of-a-kind experiences that will bring guests back again and again.”
Punch Bowl Social is also continuing to grow. It is on track to open its 15th location in the fall, in Columbus, Ohio. The company is also actively scouting additional locations and new markets across the country for each of its portfolio brands.