— The new year has started with positive momentum for The Marcus
Corporation which announced Friday it has completed the
acquisition of Movie Tavern, increasing its footprint by 23
percent, and that its fourth quarter earnings were up 5.7 percent.
The Marcus Corporation purchased Movie Tavern from VSS-Southern
Theatres, LLC, a portfolio company of Veronis Suhler Stevenson, a
private equity firm.
acquisition adds 208 screens at 22 locations in Arkansas,
Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania,
Texas and Virginia for Marcus Theatres, which now owns or operates
a total of 1,097 screens at 90 locations in 17 states. The
purchase price for the acquisition consisted of $30 million in
cash and the issuance of 2,450,000 shares of The Marcus
Corporation common stock.
are excited to welcome Movie Tavern customers and associates to
the Marcus Theatres family. Movie Tavern is an attractive addition
to our existing circuit and we are especially pleased to expand
our portfolio of in-theatre dining locations,” said Rolando B.
Rodriguez, chairman, president and CEO of Marcus Theatres, in a
company plans to brand the locations as “Movie Tavern by
Marcus,” according to the announcement.
fourth quarter was a good one, The Marcus Corporation reported
Friday, saying its total revenues for the period were $175 million
up 5.7 percent compared to the fourth quarter of 2017.
admissions revenue growth in line with the industry, after
adjusting for new theaters, according to the release.
earnings attributable to The Marcus Corporation of $7.8 million to
$8.7 million and net earnings per diluted common share
attributable to The Marcus Corporation of $0.27 to $0.30. Net
earnings attributable to The Marcus Corporation were $34.4 million
and net earnings per diluted common share attributable to The
Marcus Corporation were $1.21 for the fourth quarter of fiscal
2017. “Fiscal 2018 was another great year for The Marcus
Corporation and we expect to report record revenues and operating
income,” said Gregory S. Marcus, president and chief executive
officer of The Marcus Corporation, in a statement. “Both Marcus
Theatres and Marcus Hotels & Resorts performed very well,
contributing to these strong expected results. We expect Marcus
Theatres to once again deliver record revenues and operating
income for the fourth quarter and full fiscal year.”