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MILWAUKEE-Marcus Theaters Corp., a division of Marcus Corp., has signed an agreement to acquire, through a subsidiary, 11 theaters from Cinema Entertainment Corp., based in St. Cloud, MN. Marcus is acquiring the theaters for $75.7 million. The theaters, with a total of 122 screens, are located in five metropolitan markets including St. Cloud, MN; Duluth, MN; Superior, WI; Fargo, ND; Moorhead, MN and Cedar Falls, IA; and Waterloo, IA, according to a statement. Representatives from Marcus Theaters did not return a phone call seeking comment.

Marcus Theaters Corp. currently has theaters in Illinois, Minnesota, Ohio and Wisconsin which will make the acquisition Marcus Theatres’ first foray into Iowa and North Dakota. After the acquisition, Marcus will have 628 screens in 52 locations in six states and will be the seventh largest movie chain in the country. Marcus expects to close on the transaction by the end of next month.

A new Marcus movie theater, called the Majestic, is also scheduled to open in May in Brookfield, WI. Besides movie screens, the theater will have an area for performances and meetings, a pizza café, a coffee and ice-cream shop and a cocktail lounge. West Point Cinemas, at 20241 W. Bluemound Rd. in Brookfield, will close when the new Brookfield theater opens.

Cinema Entertainment Corp. currently has 249 screens at 31 locations in Iowa, Minnesota, Nebraska, North Dakota and Wisconsin and will continue to operate the rest of the locations after the merger.

“Our two companies share a similar history, are deeply rooted in the values of the Midwest and have the same focus on guest service and quality,” says Stephen Marcus, chairman and CEO of the Marcus Corp., in a statement. “We anticipate a smooth integration of the CEC theaters into our circuit and expect that the acquisition will be accretive to both earnings and cash flow.”

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