Empire Theatres Limited announces the acquisition of 27 theatres in Ontario and Western Canada
STELLARTON, NS, Aug. 22 /CNW/ - Empire Theatres Limited ("Empire
Theatres") announced today that it has agreed to purchase 27 theatres with 202
screens located in Ontario and Western Canada from Cineplex Galaxy LP
("Cineplex"). The transaction is valued at approximately $83 million and is
expected to close September 30, 2005, subject to customary closing conditions.
Stuart Fraser, President and CEO, Empire Theatres Ltd said "we are
pleased with this acquisition as it enables us to further expand our presence
across Canada beyond our core group of theatres located in Atlantic Canada. We
look forward to operating these theatres and introducing the Empire Theatres
brand to Ontario and Western Canada." Empire Theatres will offer existing
staff continued employment in these theatres.
Empire Theatres currently operates 28 theatres representing 177 screens
in Atlantic Canada including one IMAX theatre in Halifax, NS along with 4
theatres representing 24 screens via a joint venture in Western Canada. As a
result of this acquisition, including the joint venture, Empire Theatres will
operate 59 theatres representing 403 screens across Canada.
Cineplex entered into a consent agreement with Canada's Commissioner of
Competition in connection with the Famous Players acquisition requiring the
sale of 34 theatres with a total of 282 screens located in the regions of
Ontario, Western Canada and Quebec. The purchase by Empire Theatres represents
27 of these 34 theatres.
A complete listing of the theatres being purchased has been attached to
this press release.
About Empire Theatres Limited:
Empire Theatres is a 100% owned subsidiary of Empire Company Limited with
its corporate headquarters in Stellarton, NS. Empire Theatres is committed to
offering a terrific cinema experience to its customers by offering modern
complexes and amenities along with branded food choices. More information can
be found at
www.empiretheatres.com.
Empire Company Limited is a public company traded on the Toronto Stock
Exchange (symbol EMP.NV.A). Empire's key businesses include food distribution,
real estate and corporate investment activities, including theatres. More
information can be found at
www.empireco.ca.
About Cineplex Galaxy LP:
Cineplex, headquartered in Toronto, ON operates or has an interest in 132
theatres with 1,278 screens (after giving effect to the 34 theatres and 282
screens to be divested pursuant to a consent agreement with the Canadian
Commissioner of Competition) and is the largest motion picture exhibitor in
Canada. Cineplex is a public company traded on the Toronto Stock Exchange
under Cineplex Galaxy Income Fund (symbol CGX.UN). More information can be
found at
www.cineplexgalaxy.com or at
www.famousplayers.ca.
Ontario Region
Cineplex Odeon Showcase Cinemas Famous Players Jackson Square Cinemas
3325 Harvester Rd. 2 King St. W.
Burlington, ON Hamilton, ON
Cineplex Odeon Orleans Town Centre SilverCity Kitchener
250 Centrum Blvd. 135 Gateway Park Dr.
Orleans, ON Kitchener, ON
Cineplex Odeon Exchange Centre Famous Players Kings College Cinemas
111 Albert St., 3rd Floor 262 King St. W.
Ottawa, ON Kitchener, ON
Cineplex Odeon Elgin Mills Famous Players 8 Wellington
10909 Yonge St. 983 Wellington Rd. S.
Richmond Hill, ON London, ON
Cineplex Odeon Square One SilverCity St. Catharines
100 City Centre Dr. Pen Centre Shopping Mall
Mississauga, ON 221 Glendale Ave.
St. Catharines, ON
Famous Players Capitol Theatre Famous Players Rideau Centre Cinemas
223 Princess St. 50 Rideau St.
Kingston, ON Ottawa, ON
SilverCity North York
5095 Yonge St.
North York, ON
Western Region
Famous Players Capitol 6 Cineplex Odeon Granville Cinemas
805 Yates St. 855 Granville St.
Victoria, BC Vancouver, BC
Cineplex Odeon Oakridge Famous Players Esplanade
601 - 650 West 41st Ave. 200 W. Esplanade
Vancouver, BC N. Vancouver, BC
SilverCity Guildford Coliseum Calgary
15051 - 101st Ave. 100 - 16061 Macleod Trail S.E.
Surrey, BC Calgary, AB
SilverCity Country Hills Famous Players Gateway 8
388 Country Hills Blvd. N.E. 2950 Calgary Trail S.
Calgary, AB Edmonton, AB
Cineplex Odeon Clareview Town Cineplex Odeon
Centre Edmonton City Centre Cinemas
4211 - 139th Ave. 10002 - 102nd Avenue
Edmonton, AB Edmonton, AB
Paramount Theatre Lethbridge Famous Players Westmount Centre
4th Ave. and 8th St. S. Cinemas
P.O. Box 520 2003 Westmount Shopping Centre
Lethbridge, AB 111 Ave. and Groat Rd.
Edmonton, AB
Famous Players Capitol 4 Cinemas Cineplex Odeon Grant Park
216 1st Ave. S. 1120 Grant Park Ave., Unit 127
Saskatoon, SK Winnipeg, MB