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Digiplex acquiring 10-screen Florida theater

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Westfield-based interactive movie theater company Digital Cinema Destinations, operating as Digiplex Destinations, announced it will acquire a 10-screen movie theater in Daytona, Fla. Financial terms were not disclosed.

According to the announcement, Digiplex signed an asset purchase agreement with current owner of the 10-plex, Paragon Entertainment Group. Digiplex’s newest location will also feature “My Pi” Custom Pizza and Craft Beer, marking the company’s entry into the theater-restaurant service business. Digiplex will be licensing the My Pi concept under a licensing agreement from Paragon Entertainment, LLC.

The all-cash acquisition is expected to be completed during the first quarter of 2014. Digiplex will also have right of first refusal for Paragon Theatres’ 8-plex in Deerfield, Fla. This transaction marks Digiplex’s second announced location in Florida, the company said in a statement.

Write to the Editorial Department at editorial@njbiz.com

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