Marcus Theatres®, a division of The Marcus Corporation (NYSE:MCS), today announced it has completed the previously announced acquisition of 197 screens at 14 Wehrenberg Theatres® locations in Missouri, Iowa, Illinois and Minnesota. The acquisition expands Marcus Theatres’ footprint by 29% to 885 screens at 68 locations in eight states. Terms of the transaction were not disclosed.
“We are pleased to welcome the Wehrenberg Theatres customers and associates to Marcus Theatres and look forward to continuing the tradition of excellence established by Wehrenberg Theatres over four generations. We plan to further enhance the entertainment experience at select theatres with new features and amenities including DreamLoungerSM recliner seating, premium large-format screens and our signature food and beverage concepts,” said Rolando B. Rodriguez, president and chief executive officer of Marcus Theatres.
The 14 Wehrenberg Theatres locations include nine in the Greater St. Louis area; one each in Cape Girardeau and Lake Ozark, Missouri; one in Cedar Rapids, Iowa; one in Rochester, Minnesota; and one in Bloomington, Illinois. Marcus Theatres has acquired the underlying real estate for six of the theatre locations, as well as the Ronnie’s Plaza retail center in St. Louis. The acquisition is expected to be accretive to both earnings and cash flow.
Source: Marcus Corporation
Category: Member News