Flix Entertainment Closes Equity Investment from Twin Point Capital
Company will open Flix Brewhouses in three new markets this year
ROUNDROCK, TEXAS (PRWEB) FEBRUARY 28, 2018
Flix Entertainment LLC, the operator of Flix Brewhouse, the world’s only combination first-run cinema and dine-in microbrewery, has closed an equity investment from Twin Point Capital and existing shareholders to fund its continued growth and development.
Founded in 2011, Flix provides a unique guest experience, offering a premium viewing and dining experience at an affordable price. Flix is rapidly expanding into multiple new markets and is carefully selecting attractive new communities for future expansion.
Allan Reagan, Chief Executive Officer of Flix Entertainment said, “We are excited to bring the unique Flix cinema brewery experience to customers in three new markets in 2018 and intend to accelerate the pace of openings beginning in 2019.”
Mr. Reagan added, “We are thrilled to be partnering with the Twin Point team, who bring a depth of experience in entertainment, cinema exhibition, media and video content distribution. We are highly aligned in our vision of creating superior guest experiences through first-class locations, award winning food and beverages, and most importantly, investing in the most talented people in the business. We are a people-first culture.”
The Round Rock, TX-based company, which now has four units, said its next four Flix Brewhouses will be in Little Elm, TX, Madison, WI, Chandler, AZ, and El Paso, TX with many more locations in the pipeline for expansion.
Matthew Baizer, Chief Operating Officer of Flix, added, “We look forward to expanding our footprint of entertainment destinations to many new locations and creating thousands of new and rewarding jobs in those communities. I look forward to welcoming each and every one of our new teammates to the Flix family.”
Twin Point Managing Partner Jonathan Friesel said, “Our new partners at Flix have built an outstanding organization and we are deeply impressed by the quality and uniqueness of the Flix experience, as well as the dedication that each Flix team member brings to delivering a world-class experience to our guests. We look forward to working with Allan and his team to rapidly expand Flix into new markets.”
The company was advised by Blue Square Capital Advisors and its legal counsel was Davis Wright Tremaine LLP. Twin Point Capital was represented by Locke Lord LLP.