Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Apr. 19, 2:27 PM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #74. Regal Entertainment Group — Great Escape Theatres
Acquirer:
Regal Entertainment Group (NASDAQ:RGC)
Acquiree:
Great Escape Theatres
Details:
Regal Entertainment Group (NYSE:RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced that it has completed the acquisition of Great Escape Theatres and declared a special cash dividend of $1.00 per share of Class A and Class B common stock. Regal acquired a total of 25 theatres representing 301 screens at a pre-synergy multiple of approximately 5.5 times cash flow for an aggregate purchase price of $91 million in cash. The acquisition of the Great Escape circuit will enhance Regal's presence in Georgia, Illinois, Indiana, Kentucky, Missouri, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee and West Virginia. The transaction involved multiple sellers and the aggregate purchase price includes repayment of the sellers' debt and the assumption of working capital and is subject to customary post-closing adjustments. The sellers will also maintain an interest in the real property associated with seven of the acquired theatres.
Regencell Bioscience is a holding company. Through its subsidiaries, Co. is an early-stage bioscience company that focuses on research, development and commercialization of traditional Chinese medicine (TCM) for the treatment of neurocognitive disorders and degeneration, specifically Attention Deficit Hyperactivity Disorder and Autism Spectrum Disorder, and infectious diseases affecting people's immune system such as COVID.
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