Cinemark acquired assets from Rave, primarily consisting of 32 theatres in 12 states for $240 million in cash and the assumption of certain liabilities.
The Rave Cinemas in West Springfield is among 32 theaters in 12 states purchased by Cinemark USA Inc. Other theaters include the Eastfield Mall 16 in Springfield and the Enfield 12. Cinemark Holdings, Inc. of Plano, Texas, the country’s third-largest movie theater chain, has completed its acquisition of the Rave Motion Pictures chain, including theaters in Springfield, West Springfield and Enfield.
Cinemark acquired assets from Rave Holdings LLC of Dallas, primarily consisting of 32 theaters in 12 states for $240 million in cash and the assumption of certain liabilities.
Based on the U.S. Department of Justice final judgment, Cinemark must divest of three theaters in Kentucky, New Jersey and Texas.
With the addition of the Rave Cinemas, Cinemark's reach extends to 40 states.
Prior the acquisition of Rave Cinemas, Cinemark's sole New England theater was at the Hampshire Mall in Hadley.
"The Rave theatres are well positioned in their markets and include multiple patron amenities, including expanded food service offerings and premium large format screens. With this addition, we will extend our presence into new markets and increase our industry leading XD premium large format brand to 129 screens worldwide," said Timothy Warner, Cinemark's chief executive officer, in a news statement. "We are happy to welcome the Rave theatre team to our Cinemark family."
It was unclear whether the Rave Cinemas in Massachusetts and Connecticut will be renamed.
Repeated calls to Cinemark spokesman James Madison went unreturned.