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Article: West Coast signs agreements to buy more independent chains. (West Coast Entertainment, Inc.)
- Article from:
- Video Business
- Article date:
- June 28, 1996
- Author:
CopyrightCOPYRIGHT 1996 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In its first month as a publicly traded company, West Coast Entertainment has been absorbing the 171 stores it purchased with the proceeds of its initial public offering (IPO) and has signed agreements in principle to buy 72 more.
The proposed acquisitions comprise "about five" independent chains that won't be identified until definitive agreements are reached, said CEO Kyle Standley. The stores will serve to fill in West Coast's markets in New Jersey, central Ohio, Kentucky and Boston.
Standley declined to say whether the agreements contain "no shopping" clauses that preclude the proposed sellers from negotiating with other suitors.
Last May, West ...