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
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