Solomon Partners Advises on Sale of Movie Tavern

Marcus Theatres, a division of The Marcus Corporation, announced it has signed an agreement to acquire the assets of Movie Tavern from VSS-Southern Theatres, LLC, a portfolio company of Veronis Suhler Stevenson (VSS), a private equity firm. The purchase price is valued at approximately $126 million, comprised of $30 million in cash and 2.45 million shares of The Marcus Corporation common stock, subject to certain lock-up restrictions.

Solomon Partners is serving as financial advisor to Southern Theatres. Solomon Partners was selected based on its prior role in the 2013 sale of Movie Tavern and Solomon Partners’ extensive experience advising clients on M&A transactions in the motion picture exhibition sector.

With 22 locations and 208 screens in nine states, New Orleans-based Movie Tavern is an industry leader known for its successful in-theatre dining concept featuring chef-driven menus, premium quality food and drink and luxury seating. The transaction combines Movie Tavern’s dine-in innovation with Marcus’ operational expertise. Upon completion, Marcus Theatres will own or operate a total of 1,098 screens at 90 locations in 17 states, representing a 23% increase in Marcus Theatres’ total screen count and expands Marcus Theatres’ footprint in 9 new states.

A link to the press release can be found here:

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