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Industry: Email Alert RSS FeedMovie Gallery buys Canadian chain VHQ
DSN Retailing Today, March 14, 2005
DOTHAN, ALA. -- While waging an ongoing battle with Blockbuster Entertainment to acquire Hollywood Entertainment, Movie Gallery has purchased a 61-store Canadian rental chain. The nation's third-largest rental chain, Movie Gallery announced March 3 that it would purchase VHQ Entertainment Inc. for $14 million.
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The acquisition will increase Movie Gallery's 200-store presence in Canada and provide it with more stores in Alberta, Saskatchewan and the Northwest Territories. Movie Gallery is awaiting a final decision on its $900 million offer to buy Hollywood Entertainment, but its effort is being stalled by Blockbuster's rival bid.
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