Belgium's Kinepolis to buy MJR Digital Cinemas for $152.25 million to enter U.S.Christian Fernsby ▼ | September 2, 2019
Kinepolis agreed to acquire U.S.-based MJR Digital Cinemas for an enterprise value of $152.25 million to enter the U.S. market.
Acquisition MJR Digital Cinemas
Topics: Kinepolis MJR
“The acquisition of MJR fits perfectly into our expansion strategy,” Chief Executive Eddy Duquenne said.
Privately held MJR, which delivered revenue of $81.2 million for 2018, will continue to be managed under the existing brand name and by current management.
The transaction for the Michigan-based company, which operates 10 movie theater complexes, includes a corporation tax value of over $13 million and is expected to close before the end of October. ■