In a deal struck between two Kansas City-area entertainment chains, B&B Theatres has purchased Dickinson Theatres for an undisclosed amount.
The acquisition gives B&B 15 theater sites and 169 screens across seven states, bringing its total to 50 locations and 408 screens over eight states. The buyout of Dickinson Theatres makes B&B the ninth largest theater chain in the country, according to a company news release.
B&B Theatres owns and operates four locations in the Springfield area – one each in Bolivar, Lebanon, Monett and Ozark. Dickinson had operated the Springfield 8 theater before Overland Park, Kan.-based
ShowPlex Cinemas Inc. bought 10 Dickinson properties in 2010.
In 2012,
ShowPlex merged with Dallas-based Starplex Cinemas, according to private equity firm Trinity Hunt Partners.
Brock Bagby, director of business affairs for Liberty-based B&B Theatres, this morning said the purchase competitively positions the 90-year-old company in an industry marked by consolidation in recent years.
Dickinson’s ex-president now and our president have been longtime friends,” Bagby said. “About two years ago, a conversation was started and then was on and off. This summer is when the conversations got serious. We officially put together the deal in five weeks, which is pretty fast for a deal this size.”
He declined to disclose terms of the acquisition that closed Oct. 3. The company didn’t disclose the deal to the public until Oct. 10, after Bagby said officials informed movie studio executives.
It’s kind of an unwritten rule that with news of that stature, you tell them in person,” Bagby said. “It’s the perfect marriage because (Dickinson) is based out of Kansas City, and combined, this gives us 11 locations in Kansas City.”
Ron Horton, president of Kansas City-based Dickinson Theatres, which was founded in 1920, said in the release the B&B deal allows several key Dickinson employees to retain their jobs.
All Dickinson Theatre properties will take on the B&B name, and plans are underway to remodel several locations to include upgraded seating, point-of-sale software and large-format screens.
B&B Theatres – which stand for Bills and Bagby, its two founding families – was
founded with a single theater by Elmer Bills Sr. in 1924 in Salisbury. With the addition of Dickinson, B&B Theatres now operates in Arkansas, Arizona, Florida, Kansas, Missouri, Nebraska, Oklahoma and Texas. B&B Theatres also has a marketing office in Los Angeles.
Earlier this year, B&B Theatres purchased six Kansas City drive-in screens, and in August, it opened a 12-screen theater in Waynesville. B&B Theatres also has plans to replace its Liberty Cinema 12 with a flagship theater and corporate offices, according to the release.
