News that PVR Cinemas has acquired SPI Cinemas has moviegoers worried about how the deal will affect service at the South Indian multiplex chain – especially the quality of its famed popcorn.
On Sunday, PVR, India’s largest movie exhibitor, announced that it was buying 71.7% equity, or 222,711 equity shares, in SPI Cinemas for Rs 633 crores. The Chennai-headquartered SPI Cinemas, formerly called Sathyam Cinemas, has branches in Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala and Mumbai.
Once completed, the acquisition will increase PVR’s screen count to 706 across 60 cities. The founders of SPI Cinemas, Kiran M Reddy and Swaroop Reddy, will continue to be associated with the business, PVR said.
To new beginnings. pic.twitter.com/csFJpahiUb
— SPI Cinemas (@SPICinemas) August 13, 2018
Reports of the deal generated mixed reactions on Twitter, with moviegoers expressing their loyalty to the South Indian theatre chain.
You sell it to who you want, I will always call it #Sathyam
— Siddharth (@Actor_Siddharth) August 12, 2018
Heart breaking. Sathyam was every single chennai souls pride and emotion..
— Mithun K Raman (@mithunraman) August 12, 2018
Adei PVR bad words da Dei!
PVR is a just a name. @SPICinemas is an emotion 😥 #Sathyam
— Siva Kumar (@rvsiva17) August 13, 2018
With PVR buying Sathyam Cinemas, we can only pray and hope that we get the same experience like how @SPICinemas has been giving us for so many years.
— Archit Kohli (@ArchitKhl) August 13, 2018
At the top of the list of concerns was the fate of the theatre chain’s most esteemed product: its flavour-it-yourself popcorn. Customers can choose from an array of seasonings to garnish their popcorn at cinema halls.
On Monday, Nitin Sood, PVR’s Chief Financial Officer, told The Hindu that the South Indian chain’s food would remain untouched. “The food and the popcorn at SPI, which is close to every movie-goer, will remain,” he said.
But that did not stop moviegoers from worrying about the buttery snack.
I really hope they don’t mess with the goodness that is @SPICinemas be it the heavenly butter popcorn or the amazing sound. PVR no need to change what’s already perfect 😁🙏🏽 #sathyampopcorn #perfection pic.twitter.com/yjY784HAIm
— Sahithya Jagannathan (@jsahithya) August 13, 2018
Sathyam Popcorn lovers, after knowing #PVR to take over #SPICinemas 👇🤦 pic.twitter.com/h2W3XJuwV1
— Chennai Memes (@MemesChennai) August 12, 2018
The theatre chain sources its kernels from a farmer-owned co-operative in the United States of America, called Preferred Popcorn, which specialises in a variety of high-yield corn. “High-yielding corn leads to better-tasting popcorn,” Bhavesh Shah, Head of Experiences at SPI Cinemas, told The Hindu in January. “The low-yielding variety, like the kind we find here, tends to be dense and thick and doesn’t taste as great.”
The cinema chain acquired the seasoning from American brand Kernel Season’s and later got a local company to start making the same flavours. “Whenever we’ve tried to make changes, there has been major backlash,” Shah told The Hindu. “Our customers take it very personally.”
So I did the math. If every Chennainte pays Rs.1214, we can buy back #SathyamCinemas. And if you can't understand why we feel this way about this place, just read an old article of mine about the extent they went to get us 'the best popcorn in the world'. https://t.co/S8sTFi7GEI
— Vishal Menon (@Vishal1Menon) August 13, 2018
check out the packaging design we've created for your favourite popcorn at Sathyam. Mixing the flavors is easier than ever! Let me know what you guys think!https://t.co/qLkXauEpLP! pic.twitter.com/FgjJIKEW15
— jay.janagan (@jayjanagan) March 24, 2018