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Kerasotes to Buy Six Star Cinema Locations in Wisconsin, Iowa

Posted on Thursday, January 17th, 2008 11:21 AM by Scott Jentsch

The Star Cinema in Johnson Creek, Wisconsin. Copyright © 2006, SVJ Designs, LLC All Rights Reserved

Kerasotes ShowPlace Theatres, LLC has reached an agreement with AGT Enterprises, Inc./Star Iowa, LLC to purchase six Star Cinemas locations in Wisconsin and Iowa. The transaction is due to be completed on January 31, 2008.

The Star Cinemas locations are:

Star Cinema will keep its Prairie du Chien, Wisconsin location, according to the press release (which is included below).

After the sale, Kerasotes will operate 101 theaters with 947 screens in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, Colorado and Wisconsin.

Press Release

KERASOTES SHOWPLACE THEATRES TO ACQUIRE STAR CINEMAS IN WISCONSIN AND IOWA

Kerasotes ShowPlace Theatres, LLC has reached an agreement with AGT Enterprises, Inc./Star Iowa, LLC to purchase six theatres in Wisconsin and Iowa. Star Cinemas, located in Fitchburg, Johnson Creek, Lake Delton, and Reedsburg, Wisconsin along with Dubuque and Council Bluffs, Iowa, will be acquired in the transaction scheduled to close on January 31, 2008. However, AGT will retain the Star Cinema in Prairie du Chien, WI.

"Star Cinemas are top quality, beautifully themed multiplexes that will be a wonderful addition to our company. The theatres are both a great fit geographically and culturally. The Adamany family and our company share the common goal of providing industry leading movie going experiences for our guests. We are looking forward to integrating these six fine theatres and their dedicated staffs into our organization," said Dean Kerasotes, Chief Operating Officer.

"Kerasotes runs great theaters and shares many of the values that have helped to make Star Cinemas one of the top theater circuits in Wisconsin and Iowa. We're pleased that a company with such high standards as Kerasotes' will be continuing the movie going tradition in these six communities", said Bill Adamany Jr., co-owner of AGT/Star-Iowa.

About Kerasotes ShowPlace Theatres, LLC

Kerasotes ShowPlace Theatres, LLC is the sixth largest motion picture exhibitor in the United States. Founded in 1909, the company grew from a single store front nickelodeon in Springfield, Illinois to one of the industry's premier companies. Based in Chicago, Kerasotes ShowPlace Theatres is managed by third generation family, Tony and Dean Kerasotes, who have directed the company's aggressive growth since the late 1980's. With the addition of the Star Cinemas, Kerasotes ShowPlace Theatres will operate 101 theatres with 947 screens in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, Colorado and Wisconsin.

About AGT Enterprises/Star Iowa

Founded in 1982 and based in Prairie du Chien, Wisconsin, AGT Enterprises, Inc./ Star Iowa, LLC currently owns and operates 87 screens in Wisconsin and Iowa, including an IMAX screen in Madison, Wisconsin and one currently under construction in Council Bluffs, Iowa. Star Cinemas are known for elaborately themed lobbies, three lane drive through canopies protecting guests from inclement weather and other amenities such as high back rocking love seats, wall to wall curved screens and digital sound. AGT is the second largest theater operator in Wisconsin and ranks among the top 50 largest theater circuits nationally.



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