Emagine Entertainment, With Theaters In Batavia, Frankfort, Acquired In $105M Deal

BATAVIA, IL — Emagine Entertainment, which operates two theaters in Illinois, has been acquired by a Belgian movie operator in a $105 million deal, the two companies announced Tuesday.

Kinepolis Group, whose portfolio includes 63 cinemas across Europe, will add Emagine's 14 theaters to its holdings. The deal could expand further, as Kinepolis said it is prepared to pay an additional $15 million depending on United States box office growth this year, according to a news release.

The company, founded in 1997, expects to complete the sale by the end of the year.

The Emagine theaters will join Kinepolis's 35 other cinemas in Canada and 10 in the U.S., which it gained through the acquisition of the Canadian group Landmark Cinemas and American company MJR Theatres.

Emagine's portion represents 177 screens and 18,000 seats in Illinois, Indiana, Michigan and Wisconsin. The company welcomes about 6 million visitors per year to generate almost $129 million in revenue, Kinepolis said.

The deal is for 100 percent of Emagine's business. Some cinemas, in Minnesota, Michigan and Colorado, are operated under the Emagine brand but managed by third parties.

Eddy Duquenne, the CEO of Kinepolis Group, said the acquisition will put the company back on track with its expansion strategy since the pandemic.

"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," he said in a statement. "We are excited to welcome the new teams to the Kinepolis family."

In Illinois, theaters are located in Batavia and Frankfort. The Batavia cineplex houses what is considered to be the largest movie theater screen in Illinois and Michigan, spanning 92 feet and more than 48 feet tall, almost the size of a professional basketball court.

Kinepolis will continue to operate Emagine theaters under the existing brand name while "carefully considering the needs of all employees and stakeholders," according to a news release.

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