July 13, 2023
New York, NY (July 13, 2023) – EFA Partners, a boutique financial advisory firm that arranges capital and provides strategic consulting services for entertainment and media companies, announced today that it served as the exclusive sell-side financial advisor to Fox Theatres for the recently completed sale of the eight-screen Fox Berkshire in Reading, Pennsylvania to AMC Theatres.
Opened in 1993, Fox Berkshire has consistently been one of the top grossing independent theaters in the Philadelphia DMA. It features 100% luxury recliner seats, reserved seating, and a premium large format screen with a giant curved screen spanning wall-to-wall and floor-to-ceiling. In addition, the theater has an upscale cocktail bar, a patio lounge with outdoor seating, and a full kitchen that serves freshly prepared hot food for in-theater dining.
“It has been a pleasure working with Ralph Willis and the EFA team for the past nine years,” said Don Fox, President of Fox Theatres who will be retiring from the film exhibition industry with the sale of Fox Berkshire. “Over the years, EFA has assisted us with arranging several financings to upgrade Fox Berkshire and then led our sale process for the theater. This culminated with the successful sale to AMC and I’m confident that AMC will continue the theater’s tradition of providing a first-class movie-going experience for the loyal patrons in the Reading market.”
EFA’s principals have over 50 years of collective experience in providing financing solutions for film exhibitors and companies in related sectors. They have deep relationships across the move theater industry and also with providers of capital for the industry. The EFA team prides itself on handling its clients’ financing processes from start to finish. For Fox Theatres, they garnered interest from a targeted list of prospective acquirers, completed comprehensive materials to highlight Fox Berkshire, the Reading market, and the film exhibition industry, participated in all phases of negotiations, and assisted with reviewing closing documentation.
“We have had a great relationship with Don and his team at Fox Theatres for the past several years and we appreciated the opportunity to lead the sale process for Fox Berkshire,” said Ralph Willis, Managing Partner and a founding principal of EFA Partners. “Don has been a dedicated innovator for the film exhibition industry for over 40 years and he has strived to provide exemplary movie-going experiences at the company’s theaters. We wish him all the best as he exits the industry and pursues future endeavors.”
About EFA Partners
EFA Partners is a boutique financial advisory firm with offices in New York and Atlanta focused on entertainment, media, and technology companies. It provides investment banking services focused on arranging growth capital, mergers and acquisitions, and financial consulting. In entertainment, its targeted sectors include movie theaters, family entertainment centers, theme parks, water parks, concert venues, hotels, casinos, sports, and others. In media and technology, EFA focuses on companies in film/television post-production, film/television distribution, communications services, recorded music, music publishing, and others. Since its inception in 2009, EFA has been retained by nearly 200 clients, has arranged over $1.6 billion of capital, and has advised on over $3.6 billion of additional capital.
About Fox Theatres
Fox Theatres was founded in Reading, Pennsylvania in 1958 by Richard Fox and at its peak had over 100 screens and 1,000 employees in Pennsylvania, Delaware, Maryland, and Florida. The company’s headquarters has been in Berks County for 65 years.