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|Home: BigScreen Journal - Kerasotes ShowPlace Theatres to Acquire Colorado Cinemas|
Illinois-based Kerasotes ShowPlace Theatres announced earlier in February that they were acquiring Colorodo Cinemas, effective tomorrow, March 2, 2007.
See the Press Release below for a list of the affected theaters.
(Chicago, IL – February 7, 2007) Kerasotes ShowPlace Theatres, LLC announces the acquisition of Colorado Cinemas effective March 2, 2007. Prior to this transaction, Kerasotes ShowPlace Theatres, LLC held a minority position in the Aurora, Colorado based Colorado Cinemas. Along with its partner, Providence Equity Partners, Kerasotes ShowPlace Theatres, LLC will purchase the rest of the company. With 11 theatres and 125 screens, Colorado Cinemas is the largest film exhibitor in Colorado and operates the following locations along the Front Range of the Rocky Mountains:
After the purchase, corporate functions for the theatres will be managed from Chicago headquarters of Kerasotes ShowPlace Theatres, LLC. “We are very happy to be expanding our company into the vibrant Colorado market. Colorado Cinemas has excellent theatres in the Denver metro area and Fort Collins. We are pleased to welcome the staffs of those theatres to the Kerasotes family and look forward to serving their loyal customers” said Dean Kerasotes, Chief Operating Officer.
Chicago based Kerasotes ShowPlace Theatres, LLC was founded in 1909 when Gus Kerasotes opened his first nickelodeon, the Royal, in Springfield, Illinois. Louis and Nicholas, Gus’ sons, later led the business as Kerasotes Theatres grew to a Midwestern regional company by the 1960’s. Today, Kerasotes ShowPlace Theatres, LLC is principally managed by third generation family, Tony and Dean Kerasotes, who have directed the company’s aggressive growth since 1985 to become the 6th largest film exhibitor in the nation. After this acquisition, Kerasotes ShowPlace Theatres, LLC will operate 94 theatres with 838 screens in Colorado, Illinois, Indiana, Iowa, Minnesota, Missouri, and Ohio.
Source: Kerasotes Press Release
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