PRESS RELEASE
CMX Cinemas, the wholly-owned subsidiary of Cinemex, and Star Cinema Grill, an upscale dine-in operation primarily located in the Houston metropolitan area, have 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, CEO 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.”
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