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Digiplex announces theater acquisition, expansion

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Westfield-based interactive movie theater company Digital Cinema Destinations, operating as Digiplex Destinations, announced Thursday it has agreed to acquire a 10-screen theater in New Hampshire. Financial terms of the agreement were not disclosed. The company is also expanding a Pa. theater in a separate transaction.

According to the announcement, Digiplex has entered an asset purchase agreement to acquire a 10-plex in Londonderry, N.H. from Eastern Shores Inc., doing business as O'Neil Cinemas. Digiplex previously acquired its Lisbon, Conn. theater from O'Neil in fall 2012. Digiplex will be negotiating a new 10-year lease at the N.H. property, with options to extend. The transaction is anticipated to close in early 2014.

Separately, Digiplex also announced that its Williamsport, Pa. theater landlord has agreed to subdivide two of the nine auditoriums at this location, expanding it to an 11-plex. Work is expected to be completed by early 2014 and is being funded by the property landlord.

Digiplex conducted a $5.7 million direct offering and acquired two theaters in October.

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