Powerhouse91 on 17th November, announced the acquisition of sports and fitness brand Slovic for an undisclosed amount.
This development follows the company’s recently concluded acquisition of feminine wellness brand Azah.
Speaking on the acquisition, Shashwat Diesh, Co-Founder of Powerhouse91 said, “Our goal at Powerhouse91 is to create an umbrella of brands that have significant potential to grow and thrive. Slovic, in only a couple of years, has built a loyal following among a large pool of customers through its highly rated line of fitness products. Through Powerhouse91 we intend to provide a platform to expand its reach further and accelerate its growth multifold.”
“This event marks another significant milestone in our journey and strengthens our thesis of acquiring high growth businesses which are complementary to our portfolio,” Nikhil Agrawal, Co-Founder of Powerhouse91 added.
Further commenting on the acquisition deal, Akshay Gare, Founder of Slovic said, “The partnership between Slovic and Powerhouse91 is an extremely delightful outcome for us and we are confident in their vision of making Slovic a new-age household fitness brand. As the brand’s founders, nothing would make us happier to see Slovic prosper and flourish in the right set of hands.”