New Orleans-based VSS-Southern Theatres LLC will use a $12 million increase in its line of credit to build several new Movie Tavern locations in the Southeast and Pennsylvania. An 11-screen Movie Tavern is under construction in the Juban Crossing development in Denham Springs.
Movie Tavern shows first-run films and sells dishes such as hamburgers, pizzas and chicken wings, along with beer, wine and mixed drinks.
The company operates 36 theatre and cinema eatery locations, including six Grand locations in Louisiana: one each in Kenner, Slidell, Alexandria and New Iberia and two in Lafayette.
Southern Theatres was formed in 2002 by Chief Executive Officer George Solomon, an industry veteran. The firm specializes in multiplex, stadium-seating theatres in small- to midsize markets.
“Last September, GE Capital agented a facility to support Southern Theatres’ acquisition of Movie Tavern, a premier cinema eatery circuit. We’re thrilled to work again with the company and its private equity owner, Veronis Suhler Stevenson, to support its continued success and growth,” said Tim Huban, a managing director with GE Capital’s TMT business.