Lights, camera, acquisition!
Austin dine-in movie theater chain gobbled up in blockbuster deal
Austin-based theater chain Moviehouse & Eatery has inked a blockbuster deal. On July 26, the homegrown company was acquired by Dallas-based Cinépolis USA, part of a massive corporation operating theaters in 17 countries.
The upscale dine-in theater chain debuted in 2012, and currently operates five theaters in Texas — two in Austin and three in Dallas-Fort Worth — with another theater set to open in The Woodlands in November. In Central Texas, Moviehouse & Eatery operates locations at 8300 North FM 620 in Northwest Austin and 7415 Southwest Pkwy. in Southwest Austin.
“Cinépolis shares the same high standards that we maintain at Moviehouse & Eatery, and it is the perfect company to take Moviehouse to the next level. We are excited that Cinépolis will expand the Moviehouse experience to people all across the country,” Moviehouse & Eatery co-founder Leslie Sloan says in a release.
With the addition of Moviehouse & Eatery, Cinépolis USA now operates 26 theaters in seven states. In total, Mexico-based Cinépolis, the parent company of Cinépolis USA, operates 738 high-end theaters in 17 countries and is the second-largest theater chain in the world in terms of moviegoers.
Sloan and co-founder Rodney Speaks plan to work with Cinépolis USA to develop more theaters in the U.S., according to the release. For now, Moviehouse & Eatery will operate independently, Cinépolis says.
“This is a massive step in our direction to completely become a dine-in cinema chain by 2020,” Cinépolis USA CEO Luis Olloqui says in a statement. “Our acquisition of Moviehouse & Eatery is driven by Cinépolis USA’s strong belief in their culture, hospitality, operations, and leadership.”
Each Moviehouse & Eatery location features scratch-made food served via its “push button” dine-in service, as well as dining lounges, a full bar, and cushy recliners.
