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

Carmike Cinemas

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