Cinemark closes $240M acquisition of Rave Cinemas

Local News
By Dave Larsen
May 30, 2013
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Cinemark Holdings, Inc., the nation’s third largest theater chain, announced that it has completed the acquisition of Rave Cinemas, the Dallas-based chain that operates four area theaters in Beavercreek, Huber Heights, West Carrollton and West Chester.

Cinemark acquired assets from Rave, primarily consisting of 32 theaters representing 483 screens in 12 states for approximately $240 million in cash and the assumption of certain liabilities, officials said.

Based on the Department of Justice final judgment, Cinemark is required to divest three theaters. The location of those theaters was not immediately available.

With the addition of the Rave theatres, Cinemark’s domestic footprint expands into 40 states with an additional seven designated market areas, including the New England market, officials said.

Headquartered in Plano, Texas, Cinemark operates 467 theaters and 5,259 screens in 40 states. The company’s theaters include the Cinemark Miami Valley 1020 Garbry Road in Piqua.

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About the Author

Dave Larsen