Brief: The Grand to purchase DuPont Theatre business, rename it The Playhouse on Rodney Square

Wilmington, Del. — DuPont and The Grand Opera House announced the signing of an agreement for The Grand to purchase the DuPont Theatre business, its related assets and lease of the building. The transaction is expected to close on Jan. 20. Terms are confidential.

DuPont will continue to manage the theatre until the transaction closes, after which the theatre will be renamed The Playhouse on Rodney Square. The sale will have no impact on the remainder of the 2014-2015 Broadway Season, theatre subscription packages or ticket prices. Once the transition is complete, The Grand will communicate directly to all subscribers and patrons, according to officials.

“The DuPont Theatre represents an important piece of the company’s history and a symbol of the thriving arts and entertainment community in Wilmington for over 100 years,” said DuPont Chair and CEO Ellen Kullman. “This agreement represents a strategic and mutually beneficial business decision for DuPont and The Grand, and we are confident it will continue the Theatre’s legacy and provide and even greater experience for the community.”

The DuPont Theatre is the oldest continually operating legitimate theatre in the nation since it opened in 1913. Built in 1871, The Grand Opera House has served as a touring theatre, vaudeville house, and movie palace. Mostly shuttered in the late 1960s, it was restored in the 1970s and has become the preeminent regional venue for music, comedy, and family programs.