Press release 2021-08-19
Social Eatertainment Group expands rapidly – adds successful karaoke brand Sing Sing to the portfolio
The newly formed Social Eatertainment Group, owning O’Learys and Harrys, now announces the acquisition of a significant minority stake in the popular Swedish karaoke brand Sing Sing. This further strengthens the Group’s portfolio and vision to be leading in Europe within eatertainment – i.e. food and drinks in combination with social games, activities, events and sports.
Sing Sing offers a true eatertainment experience with its concept with private Japanese style karaoke rooms for groups combined with colorful cocktails and a mix of classic and modern Vietnamese street food. Social Eatertainment Group has acquired a significant minority stake in the company with the ambition to increase the ownership over time.
– We see a great potential in Sing Sing, both in the brand itself and the people behind it, and due to the fact that Sing Sing in a short time has become the go to place for karaoke in Gothenburg. We have set an ambitious growth plan for Sing Sing starting in the Nordic markets followed by a launch in the rest of Europe, says Kenneth Lorentzen, CEO of Social Eatertainment Group.
Sing Sing opened their first karaoke bar in 2017 in Gothenburg and it was a great success from day one and is still often fully booked weeks in advance. The second venue is opening in Malmö in Q1 2022 and it will be followed by several more openings in the near future.
– When we founded Sing Sing we had the ambition from start to create a scalable concept. In Social Eatertainment Group we’ve found the best possible partner with their great experience and knowledge within eatertainment and operating large franchise chains, says Sebastian Popescu, CEO of Sing Sing.
The goal is for Social Eatertainment Group to become Europe’s leading eatertainment company with chain sales above €1 billion in 2025. The ambition is to have more than 400 venues within the group by the end of 2025.
– With O’Learys, Harrys and Sing Sing we have a very strong portfolio of differentiated eatertainment brands. We look forward to growing with these brands together with new and existing franchisees and partners. We’re also in dialogue with several other eatertainment brands who are looking to accelerate their growth plans and want to enjoy the benefit of being part of our strong group, continues Kenneth Lorentzen.