Kinepolis Acquires Showcase Cinemas Circuit in $30 Million U.S. Expansion Deal
By
Pat Saperstein
Lightly browned and well buttered. A solid pick from the rack.
Summary
Belgium-based cinema chain Kinepolis has acquired the Showcase Cinemas circuit in the U.S. from Harbor Lights Entertainment (formerly National Amusements) in a $30 million deal. The acquisition covers 13 cinemas across Massachusetts, New York, Ohio, and Rhode Island, with six owned outright and the rest operated under lease agreements. The deal is expected to close by the end of summer. Harbor Lights is controlled by the Ellison family, formed after David Ellison acquired National Amusements from the Redstones.
Key quotes
· 4 pulledBelgium-based company Kinepolis has acquired the Showcase Cinemas circuit in the U.S. from Harbor Lights Entertainment (formerly National Amusements).
Showcase runs 13 cinemas including seven in Massachusetts, four in New York, one in Ohio and one in Rhode Island.
The acquisition is expected to be completed by the end of summer.
Controlled by the Ellison family, Harbor Lights was created after David Ellison acquired National Amusements from the Redstones.
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