EXCLUSIVE: Studio Movie Grill has received a strategic growth investment of $100 million from TowerBrook Capital Partners, funds the growing outfit will use to open more in-theater dining locations around the U.S.
“This partnership allows SMG to pursue a common vision with TowerBrook and leverage our powerful community-centric business model to drive growth,” SMG Founder and CEO Brian Schultz said. “TowerBrook is an ideal partner for SMG not only because of its deep operational capabilities and strong network, but its established commitment to sustainable and socially responsible business practices as a Certified B Corporation.”
SMG, which is built on a concept established in 1993, says it has become the fastest-growing, company-owned theater brand in the country. The Dallas-based company has 32 locations and 333 screens, with its locations in California, Texas, Florida and a handful of other states known for immersive experiences that blend film screenings with dining and cocktails.
“We are thrilled to partner with Brian Schultz and SMG’s management team as the company enters its next phase of growth,” TowerBrook Managing Director Jonathan Bilzin said. “Consumers are increasingly looking for high-quality experiences, and SMG has been at the forefront of innovation in this evolving industry.”
The investment was made through the TowerBrook Structured Opportunities Fund, an arm of the investment management firm. TowerBrook has invested in the cinema and entertainment sectors and also completed non-control partnership transactions \with founder-led businesses like GBA Group, JJA, OVH, La Maison Bleue and Gravity.
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