Bounce acquires rival Latitude as it eyes further expansion in NSW
Indoor active entertainment company Bounce has acquired competitor Latitude in a bid to double its footprint in shopping malls.
Indoor active entertainment company Bounce has acquired competitor Latitude in a bid to double its footprint in shopping malls.
The acquisition will add three centres to the Bounce portfolio in Melbourne, Adelaide and Perth. This takes the company’s venue total to 16 outlets in Australia, with licensees operating a similar number overseas.
The company also recently acquired Supaworld and rebranded its four locations.
Bounce co-founder and CEO Simon McNamara said the company — which was founded in Melbourne in 2012 and offers indoor trampolining for all ages groups — is ramping up its local acquisition plans and expanding in New South Wales in particular.
“Post-COVID, we have seen retailers as well as various asset managers and owners looking for ways to bring people back into their centres through activities,” he said.
“We have a much broader range of parties interested in how the Bounce model can contribute to their communities broadly, but also drive commercial returns by adding a destination element to their centres.”
Bounce said in a statement it is targeting earnings of more than $50 million in 2022, with an expected margin of 23%, and predicts its revenue will increase by close to 70% in the coming three to five years. It is also in the process of raising a private equity round led by KPMG, which is due to be completed soon.
Co-founder Ant Morell said the company has established itself in a ‘sweet spot’ where sports and recreation blend together with entertainment.
“Kids love it because it’s adrenaline-fuelled fun. Parents, schools and community leaders love it because it gets kids off screens and socialising together in a healthy and inclusive environment,” said Morell.
This is an edited version of an article that was first published by Inside Retail.
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