SAN ANTONIO — San Antonio's biggest locally-owned theater chain, Santikos, is set for a major operational expansion after signing an agreement to acquire locations from two theater companies, according to a press release.
The newly announced acquisition brings the number of theaters operated by Santikos from 10 – all in the San Antonio metro – to 27, including locations Louisiana, Mississippi, Alabama, Georgia, Florida, South Carolina and North Carolina.
"We have been working on expansion plans since 2018. After clearing the COVID hurdle, we are now in a great position for future growth and expansion," Santikos CEO Tim Handren is quoted as saying in the release.
The business move to acquire Grand Theatres and AmStar Cinemas from VSS-Southern Theatres, LLC will make Santikos the eighth-largest theater circuit in North America, according to the company. Its total number of screens is expected to jump from 121 to 377.
“It is an exciting time for our Grand and AmStar colleagues and guests as they become part of the Santikos family and continue to elevate the guest experience throughout the Southeast,” Jim Wood, CEO of VSS-Southern Theatres, said in the release.
On top of operational changes, within the next couple of years, the newly-acquired theaters will have the San Antonio touch. Each renovation will include expanded food and beverage options, luxury recliners and laser movie projectors.
"I wasn't looking for a 17-theater acquisition. I promise you that. I thought this was going to be one or two at a time," Handren told us in a Zoom interview Thursday. "We may have achieved a five-year plan in six months, but we have further plans for expansion."
That expansion includes new theaters in the San Antonio area, too. Santikos is eyeing properties on the far west side off 211 and Potranco, and on the far north side off 281 and Trinity Park.
"This is really, really good for San Antonio and I think this is really, really good for the industry," said Handren.
Santikos, headquartered in the Alamo City, began over 100 years ago in San Antonio after Louis Santikos bought his first theater in 1911, according to its website.
Now, Santikos operates the number-one performing theater in Texas: The Palladium.
The local company got the attention of major Hollywood studios in 2021 when it became one of the first cinema chains to reopen in a limited capacity, helping to shape a national model for how theaters across the U.S. would welcome back audiences in the latter stages of the pandemic.
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