BIRCH RUN, Mich. – Emagine Entertainment, a Midwest movie theatre chain, has been bought in a multi-million dollar deal.
The agreement will add Emagine’s 14 cinemas, located in Michigan, Illinois, Indiana, and Wisconsin, to be added to buyer Kinepolis’ portfolio.
Paul Glantz, Chairman and CEO of Emagine Entertainment said, “Kinepolis has a reputation for operating exceptionally well-run cinemas both in Europe and in North America. Their commitment to providing guests with an unforgettable movie experience makes them the ideal suitor to continue the stewardship of Emagine into the future.”
“Today’s announcement marks a key milestone in our company’s expansion – the first acquisition of this scale since the pandemic. We do this with a high-quality asset in a market where we have had positive experiences with our Kinepolis concepts. The location and size of the cinemas make them a valuable addition to the Group’s portfolio, enabling us to further expand our presence in the US market. We are excited to welcome the new teams to the Kinepolis family,” said Eddy Duquenne, CEO of Kinepolis Group.
The agreement represents a transaction value of USD 105 million for 100% of Emagine’s business. See more info on the agreement here.
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‘ Some details of this article were extracted from the following source midmichigannow.com ’
