PJ SOLOMON is serving as financial advisor to MJR Digital Cinemas in its announced sale to Kinepolis Group (EBR: KIN).

MJR, a privately-held 10 theater, 164 screen circuit located in the Detroit market with seating capacity of more than 20,000, drew 6.2 million visitors in 2018. Kinepolis is a publicly traded Belgian cinema operator with 97 theaters and 902 screens across Europe and Canada with a market capitalization of $1.6 billion.

Following its acquisition of Landmark Cinemas in Canada in late 2017, the acquisition of MJR represents Kinepolis’ first entry into the U.S. market and is an ideal geographic and strategic fit for its expansion strategy. Kinepolis will continue to operate MJR under its existing brand name and will continue to employ its 800+ employees. Current management will also continue to manage MJR and will be supported by the European Kinepolis and Canadian Landmark teams as part of the integration process.

The team was led by Rich Brail, Head of Media & Entertainment, and included Adam Jaffe and Alex Cohn.