One of India's leading multiplex chains, PVR Cinemas acquired SPI Cinemas and an official statement regarding the same was out yesterday (August 12). However, it was revealed that the operations will happen in the same manner without any change.
An official statement from SPI Cinemas has now been released, explaining about this deal. Here is what the statement says:
"Two decades ago, when we started experimenting with the dilapidated three-screen multiplex called Sathyam, Santham, Shubam, little did we realise that it was the beginning of a journey that would be so close to our hearts. In fact, it was back in 1999 that we started reimagining Sathyam - first the space and technology, then the food and beverage and finally the entire customer experience. This was really the start of the SPI Experience as you know it today.
From then on, it has been a truly incredible journey - one filled with many milestones and many ups and downs. But all through that, one thing that remained constant, that inspired us to keep moving forward, was the unwavering support and love we received from you. You are the reason we have been able to achieve what we have in the last two decades. Every time we did something new, you were there, cheering us on, encouraging us to push the envelope more and more. At every step, you have showered us with so much love in a way that has made Sathyam Cinemas a brand that truly belongs to the people of Chennai. From your love for our popcorn and cold coffee to your outrage when things didn't go our way, SPI Cinemas could've never been what it is today without you. And for this, we are forever grateful.
This morning, as we mark yet another milestone in our journey, we can't help but feel a sense of pride and deep gratitude to the audiences of this amazing city. By now, most of you would've heard of our deal with India's leading multiplex chain, PVR Cinemas. While it's only natural for you to wonder what this means for brand SPI, we want to let you know that this decision is not solely a business decision but one that is based on the larger picture. Our intent is to combine best practices and learnings from two successful brands and use our combined strength to really, truly transform your movie going experience, at scale.
We are confident that this marks the dawn of a new chapter - one filled with unlimited possibilities that will truly elevate your movie-going experience. The SPI culture will continue to be what it has always been -passionate, pioneering and inclusive. The core SPI team led by Swaroop and I, will continue to nurture and shape your experiences by preserving everything you love about us - from the people to the food to our commitment to excellence, all of it will remain intact.
As we embark upon this new beginning, we would like to take this opportunity to say thank you, for all your love and support over the years. As always, we look forward to seeing you at the movies!
Kiran Reddy
CEO, SPI Cinemas"