European theater chain buying Emagine Entertainment, including 9 Michigan locations

• A European theater chain, Kinepolis Group, is acquiring the Troy-based Emagine Entertainment.
• The deal is valued at $105 million and is expected to be finalized by the end of the year.

A European theater chain is buying Troy-based Emagine Entertainment.

Kinepolis Group, a Belgian company, announced on Tuesday, Nov. 4, that it plans to acquire 14 Emagine theaters in Michigan, Illinois, Indiana and Wisconsin and finalize the $105 million deal by the end of the year.

The deal is for 100% of Emagine’s business, according to a news release, and the theaters will continue to operated under the Emagine brand name.

Crain’s Detroit reported that Glantz and his family own about 36% of Emagine.

Not all of the 28 theater locations listed on Emagine’s website are included in the deal, as about half are operated by third parties.

The Kinepolis Group previously acquired the MJR Digital Cinemas chain in 2019 and continued to operate those theaters under the MJR brand.

“Kinepolis has a reputation for operating exceptionally well-run cinemas both in Europe and in North America,” Glantz said in the news release. “Their commitment to providing guests with an unforgettable movie experience makes them the ideal suitor to continue the stewardship of Emagine into the future.”

Glantz was not available for additional comment Tuesday morning.

“With the acquisition of Emagine Entertainment, we are back on track with the execution of our expansion strategy since the pandemic,” Eddy Duquenne, CEO of Kinepolis Group, said in a statement. “We do this with a high-quality asset in a market where we have had positive experiences with our Kinepolis concepts. The location and size of the cinemas make them a valuable addition to the Group’s portfolio, allowing us to expand our presence in the US market and strengthen our national structure.”

The news release says Emagine’s theaters have about 6 million visitors a year and do nearly $129 million in revenue.

Michigan theaters not included in the deal are The Riviera Cinema in Farmington Hills and Emagine Woodhaven, which operate under the Emagine brand but are managed by third parties through a brand licensing agreement, the news release says.

The theaters that are in the deal are:

Michigan

• Emagine Canton
• Emagine Royal Oak
• Emagine Hartland
• Emagine Birch Run
• Emagine Saline
• Emagine Novi
• Emagine Macomb
• Emagine Rochester Hills
• Quality 10 Powered by Emagine (Saginaw)

Illinois:

• Emagine Frankfort
• Emagine Batavia

Indiana:

• Emagine Noblesville
• Emagine Portage

Wisconsin:

Check back to Freep.com for more on this developing story.