Cineplex boosts gourmet fare with Yo-Yo stake

As the average moviegoer spends more on snacks, Cineplex is moving to offer more than popcorn and candy as part of its food offerings.

The exhibition giant on Thursday said it completed the acquisition of a 50% stake in YoYo’s Yogurt Café, a London, Ont.-based self-serve frozen yogurt chain.

Terms of the deal were not disclosed, though Cineplex added the purchase price was not material to the publicly-traded company.

Cineplex retains an option to buy the remaining shares in YoYo’s Yogurt.

The deal follows Cineplex continuing to build out its gourmet popcorn stand business, Poptopia, and Outtakes Backstage Bistro, its burger and fries label.

Cineplex’s expanded food offerings at its multiplex and elsewhere comes as concession sales jumped 2.8% per person in the third quarter to Sept. 30, 2013.

That represented a continued rise in concession sales in the last few years.

“This (YoYo’s) acquisition is a perfect complement to our popular proprietary food service brands, Outtakes Backstage Bistro and Poptopia, and is part of our strategy to expand our in-theatre food service offerings, while also extending our in-house brands outside our theatres,” Pat Marshall VP communications and investor relations at Cineplex Entertainment, in a statement on Thursday.

Frozen yogurt photo courtesy of Shutterstock