AMC to acquire four Rave cinemas
AMC Entertainment and Rave Reviews Cinemas entered into a definitive agreement for AMC’s acquisition of four Rave theatres.
The four venues have 61 all-digital screens, 46 percent of which are 3D-capable. The theatres are in three markets new to the AMC portfolio: Montgomery, Ala., Destin, Fla., and Baton Rouge, La. (two theatres). Each theatre has obtained the number-one position in all three markets and the average age is nine years, with numerous upgrades having occurred at each location since construction.
"We are pleased to add these four theatres to our quality fleet of locations. This is a natural progression of business that we anticipated following our own acquisition by the Wanda Group," said Gerry Lopez, AMC CEO and president. "With this strategic acquisition, we are adding new markets to our footprint and serving a new audience in the South and Southeast."
Completion of the acquisition is subject to customary closing conditions.