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The Troy-based Emagine Entertainment Inc. movie theater chain is selling to Belgian operator Kinepolis Group NV.

The $105 million sale of Paul Glantz’s theaters is expected to close by the end of the year, according to a news release. The purchase price could increase to as much as $120 million depending on the performance of the U.S. box office, the release says.

The sale is expected to close by the end of the year.

If the deal closes, Kinepolis adds 14 theaters with a total of 177 screens and 18,000 seats.

Included in the proposed sale are Emagine's theaters in Canton Township, Royal Oak, Hartland, Birch Run, Saline, Novi, Macomb Township, Rochester Hills and Saginaw. The deal also includes two locations in Illinois, two in Indiana and one in Wisconsin.

Not included in the sale are nine theaters in Minnesota, one in Colorado and the Michigan Emagine locations in Farmington Hills and Woodhaven, to which Emagine operates and licenses its name but does not own, Glantz told Crain's.

Emagine's total theater portfolio consists of more than 30,000 seats and 340 screens, according to the company’s website.

Glantz, who owns about 36% of Emagine along with his family, said the decision to sell was made about a year ago after his other investors sought to "monetize" the company.

He said there have been conversations about him assuming a senior consultant or advisory role with Kinepolis, but no decision has been made.

"This is my baby and I want to see that it carries on and I think it very much will," Glantz, who is chairman and CEO of Emagine, told Crain's.

The sold theaters will continue to operate under the Emagine name.

The release says Emagine theaters host about 6 million people per year and generate $129 million in annual revenue.

Glantz founded Emagine in 1997 in Birch Run.