Emagine Entertainment in Troy has agreed to sell its operations to Belgium-based theater operator Kinepolis Group for between $105 million and $120 million, depending on 2025 box office receipts.
Kinepolis says it will continue to operate Emagine theatres under the existing brand name. The companies expect the transaction to be completed by the end of the year.
“Kinepolis has a reputation for operating exceptionally well-run cinemas both in Europe and in North America,” says Paul Glantz, chairman and CEO of Emagine Entertainment. “Their commitment to providing guests with an unforgettable movie experience makes them the ideal suitor to continue the stewardship of Emagine into the future. ”
The Belgian company will add Emagine’s 14 cinemas to its portfolio, representing 177 screens and 18,000 seats, located in Michigan, Illinois, Indiana, and Wisconsin. Emagine welcomes approximately 6 million visitors per year, generating nearly $129 million in annual revenue.
The theaters are equipped with recliner seats and offer their own Premium Large Format under the names EMX (14 auditoriums) and Super EMX (three auditoriums). EMX features wall-to-wall screens with 4K laser projection and Dolby Atmos sound, while Super EMX takes the experience even further with an even larger screen and 64-channel Dolby Atmos sound for an immersive cinema experience.
Emagine Entertainment also provides support services to a chain of cinemas in Minnesota and Colorado, as well as Emagine Woodhaven and The Riviera in Farmington Hills. These locations operate under the Emagine brand and are managed by third parties through a brand licensing agreement.
“With the acquisition of Emagine Entertainment, we are back on track with the execution of our expansion strategy since the pandemic,” says Eddy Duquenne, CEO of Kinepolis Group. “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, allowing us to expand our presence in the U.S. market and strengthen our national structure. We are excited to welcome the new teams to the Kinepolis family.”
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.dbusiness.com ’
