Market Overview

Carmike Cinemas Closes on Purchase of 16 State-of-the-Art Theatres from Rave Reviews Cinemas

Carmike Cinemas (NASDAQ: CKEC) today announced the closing of
its previously announced purchase of 16 entertainment complexes with an
aggregate of 251 screens based in seven states and 13 individual markets
from Rave Reviews Cinemas, LLC (Rave), a portfolio company of BV
Investment Partners.

Carmike Cinemas President and Chief Executive Officer David Passman
stated, “This transaction is an important step along our path to
achieving Carmike's current goal of expanding the Company's theatrical
circuit to 300 entertainment complexes and 3,000 screens. We believe
that we have ample liquidity and financial flexibility to facilitate our
growth and will seek additional acquisition opportunities that will

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A

 

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