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Movie Gallery Adds 15 More Stores

30 Jul, 2002 By: Hive News

Movie Gallery, Inc. has acquired 15 stores in Kentucky and Indiana from UBT Management, LLC, (UBT), a Movie Gallery licensee.

Including this acquisition, the company has acquired 24 stores during the third quarter, which began on July 8, and 143 stores so far in fiscal 2002.

"We are pleased with the addition of the UBT stores. As licensed stores, they will require minimal transition to our programs and systems,” Movie Gallery chairman, president and CEO Joe Malugen said. “Additionally, we believe we have the expertise to efficiently integrate acquired stores into our chain and therefore continue to evaluate other on-strategy, core market acquisitions to fulfill our growth objectives."

The company, which owns and operates 1,589 video specialty in rural and secondary markets in 42 states and five Canadian provinces. It will report second quarter earnings Aug. 6.

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