The Marcus Corporation (NYSE:MCS) today announced that it has completed the sale of its 27 KFC and three KFC/Taco Bell restaurants in Wisconsin to H & K Partners, LLC. Terms of the transaction were not disclosed.
The sale enables The Marcus Corporation to focus on its core lodging and theatre businesses. Proceeds of the sale will be used to repay existing debt and to fund the company’s capital expenditure and stock repurchase programs.
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Peter Helf, who had been the executive vice president of The Marcus Corporation’s KFC division, is a principal and president and chief executive officer of H & K Partners. The KFC restaurants are located throughout the Greater Milwaukee area and in Appleton, Green Bay, Manitowoc, Menasha and Oshkosh, Wisconsin.
Headquartered in Milwaukee, Wis., The Marcus Corporation is comprised of three divisions: limited-service lodging, movie theatres and hotels/resorts. The company currently operates or franchises 183 Baymont Inns & Suites in 30 states, and a total of seven Woodfield Suites in Illinois, Wisconsin, Colorado, Ohio and Texas; 482 movie screens in Wisconsin, Ohio, Illinois and Minnesota, and one family entertainment center in Wisconsin; four hotels and a resort in Wisconsin, one hotel and a resort in California, one hotel in Minnesota and one hotel in Missouri. For more information, visit the company’s Web site at www.marcuscorp.com.
