Marcus Theatres, part of U.S. hospitality and entertainment company Marcus Corp., has completed the purchase of Milwaukee-based theatre chain Movie Tavern.
The final value of the purchase was estimated at $139 million, representing $30 million in cash and 2.45 million shares of The Marcus Corp. common stock.
Marcus said that the move adds 22 locations to its portfolio of in-theatre dining locations similar to its BistroPlex concept now open at Southridge Mall in Greendale as well as nine new states to its market.
Marcus said that it acquired Movie Tavern from VSS-Southern Theatres LLC, a portfolio company of U.S. private equity firm Veronis Suhler Stevenson.