VSS-Southern Theatres Completes Sale of Movie Tavern Circuit to Marcus Theatres
Transaction Positions Leading Dine In Theater Circuit for Continued Success
NEW YORK – February 1, 2019 – VSS, a private investment firm, today announced that its portfolio company, VSS-Southern Theatres, LLC (“Southern Theatres”), has completed the sale of Movie Tavern’s assets to Marcus® Theatres, a division of The Marcus Corporation. Movie Tavern’s locations will retain their existing brand name as part of Marcus Theatres under the “Movie Tavern by Marcus” brand.
Headquartered in New Orleans, Movie Tavern is a cinema eatery that enables adults and families to watch films and dine-in at its 22 theater locations across nine states. Known for its chef-driven menus and exceptional customer service, the Company’s advanced digital projection system, plush seats and high quality sound systems ensure Movie Tavern’s customers enjoy first run movies while having a casual eating experience.
“The sale of Movie Tavern to a strategic buyer such as Marcus Theatres reflects its ongoing evolution during its ownership by VSS. Today, Movie Tavern is one of the fastest growing in-theater dining concepts with chef-driven menus, premium quality cuisine, high quality beverages and luxury seating in the U.S., and is now well positioned to pursue the next chapter in the Movie Tavern guest experience,” said Jeffrey Stevenson, Managing Partner, VSS.
Southern Theatres acquired Movie Tavern in September 2013. Under the ownership of Southern Theatres, Movie Tavern opened a significant number of locations across nine states in the West, South, Northeast and Mid-Atlantic regions. As a result, the Company added theaters in the states of Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia.
“We’re pleased with the incredibly rewarding partnership we developed with the excellent management teams of Movie Tavern and Southern Theatres, who transformed the in-theater dining and viewing experience of many cinema fans,” said Trent Hickman, Managing Director, VSS.
“Together with VSS, we helped accelerate Movie Tavern’s growth by expanding its locations into a number of key regional markets as part of the Southern Theatres family,” said John P. Caparella, Chief Executive Officer of Southern Theatres. “We are confident that under new ownership they will be able to attract even more customers, and continue to deliver an exceptional cinema-going experience.”
VSS is a private investment firm that invests in the information, education, healthcare, and tech-enabled business services industries. VSS provides capital for growth financings, recapitalizations, strategic acquisitions, and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and invests in situations requiring control or non-control equity, mezzanine securities, and structured equity securities. For more information, please visit: www.vss.com.
About Movie Tavern
Founded in 2001, Movie Tavern is a leader in the cinema eatery segment catering to adults and families. In September 2013, Movie Tavern was acquired by New Orleans based VSS-Southern Theatres, LLC (“Southern Theatres”). For more information, please visit: https://www.movietavern.com/.
About Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation, is the fourth largest theatre circuit in the United States and currently owns or operates 1,097 screens at 90 locations in 17 states. Upon completion of the Movie Tavern transaction, Marcus Theatres will own or operate a total of 1,098 screens at 90 locations in 17 states. For more information, please visit www.marcustheatres.com and follow the company on Facebook and Twitter (@Marcus_Theatres).
About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its Marcus Theatres division, its lodging division, Marcus® Hotels & Resorts, owns and/or manages 21 hotels, resorts and other properties in nine states. For more information, please visit the company’s website at www.marcuscorp.com.
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