Québec City’s IMAX Theatre Sold to Cineplex

Québec City’s IMAX Theatre Sold to Cineplex

Quebec City (Quebec) 26 March 2015 – It’s the country’s busiest 3D cinema screen and one of the city’s most resounding entrepreneurial success stories.  Cinémax Québec, owners of the IMAX theatre at the Galeries de la Capitale, has now sold the company to Cineplex.

Charles Auger and four business partners initially bought Cinémax Québec in 2005.  At the time, Auger was 25 years old and the company was near bankruptcy.  The five-person team turned the cinema around, and in 2007, Auger and business partner Simon Labadie bought the shares of the other three investors.  Balancing between the nature documentaries that made the IMAX format famous with Hollywood’s appropriation of the format for action blockbusters, the theatre took off and quickly became the most-watched 3D screen in the country, no doubt helped by the ample parking and key central location within Québec City’s expanding developments.

Now, 8 years later, Auger and Labadie were ready to sell and move on.  Cineplex, which already operates IMAX screens throughout Canada, was eager to grab the franchise and continue its growth.  Cineplex was quick to announce that all current employees of the Galeries de la Capitales IMAX theatre would be kept on as employees of the new Cineplex franchise.

Auger, meanwhile, will be focusing his energies on his sweet-toothed booming entrepreneurial project, Chocolats Favoris.

Categories: Business

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