By the end of the year, Emagine Entertainment will be in new hands, the Troy-based movie theater chain announced Tuesday.
The news comes after Emagine reached an agreement with Kinepolis, a movie theater chain based in Belgium. Kinepolis plans to acquire 100% of Emagine’s business before the close of 2025, according to a press release.
The current agreement will pay Emagine shareholders $105 million. Additionally, Emagine has the potential for an additional earn-out amount of $15 million, depending on how the U.S. box office performs this year, per the release.
As a result, Kinepolis will add 14 Emagine theaters to its portfolio. That includes 9 Michigan locations: Rochester Hills, Royal Oak, Macomb, Canton, Novi, Saline, Birch Run, Saginaw, and Hartland.
Outside of Michigan, Kinepolis will acquire locations in Geneva, Wisconsin; Noblesville and Portage, Indiana; and Batavia and Frankfort, Illinois.
Not included in the deal are Emagine’s locations in Birmingham, Woodhaven, and Farmington Hills, which are managed by third parties.
According to the release, “Kinepolis will continue to operate Emagine theatres under the existing brand name and prioritize (sic) the continuity for all Emagine customers, while carefully considering the needs of all employees and stakeholders.”
This isn’t the first time Kinepolis has dipped its toe in the metro Detroit market — the chain acquired Royal-Oak founded MJR Theaters in 2019. It currently operates 108 theaters around the world, including 10 in the U.S. and 35 in Canada.
Paul Glantz, Chairman and CEO of Emagine Entertainment was not immediately reachable for comment, but provided this statement:
“Kinepolis has a reputation for operating exceptionally well-run cinemas both in Europe and in North America. Their commitment to providing guests with an unforgettable movie experience makes them the ideal suitor to continue the stewardship of Emagine into the future.”
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