Acquisition Positions CMX Cinemas as the Seventh Largest Movie Theater Chain in the US.
Miami (March 15, 2020) – CMX Cinemas, the wholly-owned subsidiary of Cinemex, and Star Cinema Grill, a highly respected operator of upscale dine-in movie theatres primarily located in the Houston metropolitan area, today jointly announced a purchase agreement through which CMX will acquire all of Star Cinema Grill’s 10 existing locations as well as one theatre under development in The Woodlands, Texas. The purchase reflects the on-going strategy of CMX Cinemas to establish a major footprint within the motion picture exhibition industry in the United States. The acquisition will position CMX as the seventh largest movie theatre chain in the United States with a presence in 13 states, 51 sites, and 504 screens.
“This acquisition creates a perfect fit for CMX due to our shared vision with Star Cinema Grill to provide an exceptional guest experience. Star Cinema Grill’s locations and expertise in the motion picture exhibition industry will complement CMX’s position in the United States,” said Rogelio Velez, Chief Executive Officer for Cinemex and CMX. “This new venture will bolster CMX’s robust expansion plans in the United States and comes on the heels of our recent acquisition of Cobb Theatres. We thank Star Cinema Grill for its continued support during this process and in turn, CMX reiterates the commitment to offer the best service to all our guests”, Velez said.
“We are thrilled that Star Cinema Grill and the wonderful people that work for this company will have the opportunity to be part of a growing, premiere, international cinema operator such as CMX, that holds itself to the same high standards that we do”, says Omar Khan, President and CEO of Star Cinema Grill. “This transaction will provide amazing opportunities and synergies with CMX’s aggressive growth plan. I would like to personally thank our amazing guests for all the support that they’ve given us over the many years, and I’m proud that they will continue to enjoy the highest quality movie going experience possible.”
CMX will continue to grow organically and through acquisitions in the United States. Since the successful launch of its first movie theatre at Brickell City Centre in Miami, FL in April 2017, CMX has become a recognized entertainment destination.
Simpson Thacher & Bartlett LLP is serving as CMX´s legal counsel. PJ SOLOMON is serving as financial advisor and Honigman LLP as legal counsel to Star Cinema Grill.
For more information about the CMX experience, follow us on social media @CMXCinemas.
Cinemas CMX Cinemas, a wholly-owned subsidiary of Cinemex, opened its doors in April 2017 at Brickell City Centre, Miami, FL, offering new features to give guests an innovative and VIP movie-going experience. CMX provides state-of-the-art technology that can be enjoyed through different types of experiences: CMX CinéBistro, the luxury dine-in and in-seat service; CMX Market the innovative self-serve food hall movie experience and CMX Premium, the upgraded traditional theater with classic concessions. It also features the trendy and exclusive CMX Stone Sports Bar at select theaters, making CMX the one-stop destination for entertainment. CMX, with the acquisition of Star Cinema Grill, will have 51 sites, 504 screens and more than 3,000 employees, in venues located in Florida, Illinois, Minnesota, Georgia, Alabama, North Carolina, Ohio, Virginia, Maryland, New York, New Jersey, Colorado and Texas. New openings are scheduled in Wrigleyville, Chicago, Illinois; American Dream, New Jersey; Coastland, Naples, Florida; and International Mall, Tampa, Florida.
Cinemex is one of the top ten cinema chains worldwide, with 351 sites in 104 cities, 3014 screens and more than 14,000 employees. Founded in 1995 with the intent to revolutionize the movie entertainment industry, Cinemex began installing multiplexes and stadium-style seating with the primary focus of attending every guest’s needs. Today Cinemex continues to offer innovating concepts in cinema-going, including Platino Cinemex and Cinemex Premium, state-of-the-art theaters equipped with luxury seating and first-class dining, Cinemex 3D, and the 4D experience. At Cinemex, our main goal is to offer the best entertainment to our guests.
About Star Cinema Grill
Star Cinema Grill is a Houston based dine-in-theatre concept that offers guests first run film releases, an extensive menu, and a full service bar with a wide selection of beer, wine and spirits. Their goal is to provide every guest with an unforgettable experience through unmatched service, the highest quality food and beverages, and a flawless film presentation.