Movie Gallery Cracks Video Vault4 Feb, 2002 By: Hive News
Movie Gallery has acquired the Video Vault chain of video specialty stores, with 10 locations in Kentucky and three locations in Indiana.
"The acquisition of Video Vault is representative of the company's ongoing strategic focus on its core rural and smalltown markets, as well as the continuing potential we have to exceed our development goals through the purchase of well run local and regional operations," said Movie Gallery chairman and CEO Joe Malugen. "This acquisition expands our market presence in Kentucky and Indiana and increases our operating leverage in those states. We intend to continue evaluating additional opportunities to meet our growth objectives through both accretive acquisitions and internal development.'"
Movie Gallery owns and operates 1,433 video specialty stores in 41 U. S> states and five Canadian provinces.