North Little Rock businessman Vincent Insalaco has sold his chain of Family Video Supercenters located in Arkansas, Missouri and Oklahoma for an undisclosed sum.
The 44 store-chain was purchased Thursday by Movie Gallery Inc. of Dothan, Ala., said Jeff Stubbs, executive vice president for Movie Gallery.
Ray Sheeler, a principal at Business Valuations Service in Dallas, speculated that each Family Video store might be worth up to $145,000, bringing the entire cost for the chain to an estimated $6.38 million.
Stubbs said customers will notice little change at Family Video Super Stores; current memberships will be accepted and “eventually” new signage will be erected. A larger selection and more new releases will be available.
Insalaco owned the stores for 18 years, Stubbs said.
Movie Gallery currently operates a number of former Premiere Video stores in northern Arkansas and is planning to open about 12 more in the state. The Florida company operates more than 1,400 locations in 42 states and five Canadian provinces.
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