San Francisco-based private equity firm Altamont Capital Partners has sold dine-in cinema chain Alamo Drafthouse Cinema to global entertainment company Sony Pictures Entertainment.
Altamont first invested in Alamo Drafthouse in 2018, with the aim of growing its brand as an out-of-home entertainment concept, according to Altamont’s press statement. Working with Alamo Drafthouse’s management team comprising founder Tim League, CEO Michael Kustermann and former CEO Shelli Taylor, Altamont invested in the company’s team, technology and customer experience.
In its own press statement, Sony said that it would “preserve Alamo Drafthouse’s distinctive movie-dining experience”. Alamo Drafthouse will be added to a new Sony Pictures Experiences division as part of the transaction.
Goldman Sachs & Co advised Alamo Drafthouse.
Source:Private Equity Wire
Can’t stop reading? Read more
Top private equity news of the week
Top private equity news of the week Harvard University is advancing plans to sell approximately...
Edmond de Rothschild launches private equity fund of funds under Eltif 2.0 to expand private investor access
Edmond de Rothschild launches private equity fund of funds under Eltif 2.0 to expand private...
Private equity firms advance bids for Poundland as sale process accelerates
Private equity firms advance bids for Poundland as sale process accelerates The sale of high...
