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Carmike Cinemas And Continental Concession Supplies Inc. (CCSI) Forge New, Long-Term National Distribution Agreement

Stocks in this article: CKEC

Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, and Continental Concession Supplies Inc. (“CCSI”), a New York-based movie theatre and specialty market candy, snacks, janitorial and paper goods distributor, announced today the signing of a new long-term national distribution partnership. Under the agreement, CCSI will supply Carmike with substantially all of its concessions and janitorial needs. CCSI will commence distribution to all 247 Carmike Cinemas theatres on November 1, 2013.

The new partnership allows Carmike to capitalize upon CCSI’s national distribution capabilities, thereby reducing delivery lead times and allowing the Company to source virtually all of its concession, janitorial, paper and food products, for the first time ever, from one source. In response to the agreement, CCSI plans the immediate opening of a new distribution facility in Charlotte, NC, expanding their current network of distribution facilities to six.

In addition, the arrangement provides Carmike with further flexibility by offering an expanded menu of the best-performing food items, including gourmet and frozen foods, while leveraging the buying power and industry expertise of CCSI. With an expanded concessions selection, Carmike expects to rotate menu items faster, facilitating additional menu experimentation.

Carmike Cinemas’ President and Chief Executive Officer David Passman stated: “Carmike has established a strong reputation for growth and innovation in the theatre concessions arena by achieving increased per patron spending while maintaining solid margins. We are pleased to take the next step in our concessions growth by forging a new partnership with CCSI, an organization that we believe possesses the buying power and industry expertise to support our future success.”

CCSI Executive Vice President of Sales and Procurement Adam Gottlieb stated: “CCSI is honored to be appointed as the national supplier to Carmike Cinemas for all of their concession and janitorial needs. CCSI searches for dynamic, growing companies like Carmike to partner with, thus creating relationships that are mutually beneficial to both companies. I know we have entered into such a long-term partnership with Carmike, and our entire organization is excited to begin servicing their entertainment complexes across the nation.”

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