PRESS RELEASE
MIAMI, Dec. 11, 2017 /PRNewswire/ — CMX Cinemas, the wholly owned subsidiary of Cinemex, has announced the acquisition of Cobb Theatres, a highly respected operator of progressive movie theatre brands primarily located in the southeast, as part of its continued expansion plan. The purchase represents the on-going strategy of CMX Cinemas to establish a major footprint within the motion picture exhibition industry in the United States.
This acquisition positions CMX as the eighth largest movie theater chain in the United States with 30 currently operating sites in 10 states, 342 screens and 2,030 employees.
“We are proud to announce that all of Cobb’s 25 existing locations as well as two theatres under development in Floridaand Georgia have been acquired, strengthening the growth of the CMX family in the U.S.,” said Luis Castelazo, Director of CMX. “This acquisition creates a perfect fit for us due to CMX’s and Cobb Theatres’ shared vision to provide a top-quality guest experience. In addition, Cobb Theatres’ locations and its renowned expertise in the motion picture exhibition industry will complement CMX’s theatres in the United States.”
This new acquisition is part of a very ambitious expansion plan, which consists of both organic and inorganic growth. It includes, in addition to this acquisition, confirmed sites in 10 different locations, including Chicago, Minneapolis, New York and New Jersey, among others. While these 25 venues will keep operating on a regular basis, over the coming months, they will eventually be going through a transformation and brand transition into CMX, reinforcing the meaning of the cinema-going experience.
“We thank Cobb Theatres for its continued support during this transition and in turn, CMX reiterates the commitment to offer the best service to our guests,” Castelazo said.
For more information about the CMX experience, follow us on social media @CMXCinemas or visit www.cmxcinemas.com.
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