South Texas chain Santikos Theaters announced a definitive purchase agreement to acquire AmStar Cinemas and The Grand Theaters from VSS-Southern Theatres, LLC.
The acquisition increases Santiko’s footprint from 121 screens in 10 locations to 377 screens in 27 locations, making Santiko the eighth largest theater circuit in North America. Santikos will now have locations in Texas, Louisiana, Mississippi, Alabama, Georgia, Florida, South Carolina and North Carolina.
Tim Handren, chief executive of Santikos, said: “We are excited to welcome new members of our team and serve our new guests. Together we will continually evolve to create the best theater experience across the South East. We have been working on expansion plans since 2018. After overcoming the hurdle of COVID, we are now in a great position for future growth and expansion,” said Handren. “Our partnership with Bank of San Antonio has helped us emerge from the COVID era financially strong and ready to expand. We believe the future of our industry is bright, and we’re excited about the incredible films the studios are producing. Movies are still the best entertainment value where families can have amazing experiences and create lasting memories together.”
Jim Wood, chief executive officer of VSS-Southern Theatres, commented on the transaction, “It’s an exciting time for our Grand and AmStar colleagues and guests as they become part of the Santikos family and continue to elevate the guest experience throughout the Southeast. .
