![]() ![]() All locations include D-BOX motion-code action seats. ![]() ![]() Approximately 24 percent of the screens are 3-D-capable and four theatres have premium large format screens, two IMAX auditoriums as well as two MuviXL large screen auditoriums. Of the acquired auditoriums, 97% feature digital projection systems and all contain luxurious stadium seating configurations. We are confident Carmike’s commitment to the high level of guest service Muvico has consistently delivered to our loyal guests over the last twenty years will make the transition to new ownership a seamless one for all.” President and Chief Executive Officer, Neil Bretan stated, “We are pleased that a circuit with the visionary leadership and caliber of seasoned management of Carmike will be the new stewards of the Muvico assets and brand. We are delighted to add these well-maintained theatres to our expanding circuit, and the entire Carmike team looks forward to welcoming the Muvico associates to our growing family,” concluded Mr. “Carmike’s ongoing operating execution, combined with select accretive transactions, has continued to positively impact our top- and bottom-line results, further strengthening our position to secure additional growth opportunities as we move closer to our 300 location, 3,000 screen goal. A majority of the theatres have beer and wine service, as well as on-site entertainment centers, party rooms and conference facilities. complexes, furthering our entry into the full-service food and beverage arena. “The acquisition also will bring two Bogart’s Bar & Grill restaurants to our circuit at the Thousand Oaks, Calif. We expect limited incremental maintenance capital expenditures on these acquired facilities over the near-term. “Similar to Carmike, Muvico is a cinema technology leader and industry pioneer, with recent capital expenditures for digital projection system upgrades, IMAX and MuviXL large format screens, installations of cutting-edge sound, reserved seating and ticket kiosks, as well as additional facility enhancements. Consistent with Carmike’s stated acquisition criteria, this transaction presents a number of operational and cost synergy opportunities. Carmike Cinemas’ President and Chief Executive Officer David Passman stated, “This opportunistic acquisition of nine premium properties in three states will further increase our revenue and operating base and represents another excellent opportunity to expand our platform in attractive, complementary markets. A reconciliation of net income to pro forma EBITDA (a non-GAAP measure) is included below. The acquisition is projected to add incremental revenue of $68 million and, after general and administrative synergies, pro forma EBITDA of $5.4 million to Carmike’s financials for the trailing twelve month period ended August 31, 2013. Upon closing, Carmike’s theatre portfolio will increase to 257 theatres with an aggregate of 2,681 screens in 37 states. The transaction is expected to close in the fourth quarter of 2013. All assets and obligations being acquired are subject to customary accounting adjustments to reflect acquisition date fair value as well as the reclassification of certain lease related obligations. (dba Muvico Theaters) for $31.75 million in cash. (NASDAQ:CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, announced today the signing of a definitive agreement to purchase nine entertainment complexes with an aggregate of 147 screens located in Florida, California and Illinois from Muvico Entertainment, L.L.C. & FORT LAUDERDALE, Fla.-( BUSINESS WIRE )- Carmike Cinemas, Inc. Acquired Theaters Include Two Bogart’s Bar & Grill Restaurants, Two IMAX and Two MuviXL Large Screen Auditoriums -ĬOLUMBUS, Ga. Carmike Cinemas to Acquire Nine Entertainment Complexes with 147 Screens from Muvico Theaters ![]()
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