Transaction will be completed once the approval of the Polish Office for Competition and Consumer Protection is obtained.
Vue Entertainment, the ITI Group and AREA Property Partners have announced that Vue Entertainment is to acquire Polish multiplex operator Multikino S.A.
The transaction will be completed once the approval of the Polish Office for Competition and Consumer Protection is obtained.
Tim Richards, CEO of Vue Entertainment, commented: “The acquisition of Multikino is another exciting and strategic addition to the Vue Entertainment Group and part of our continued expansion into continental Europe through the identification and acquisition of the highest quality assets in each market.”
He continued: “Multikino is the most highly respected cinema exhibition company in Poland. With its state of the art multiplex cinemas with 100% stadium seating and strong management team, Multikino perfectly complements our existing business in Europe. We look forward to welcoming Multikino to the Vue family later this year and we hope to continue to build on the solid foundations that ITI has laid.”
Since it opened the first multiplex cinema in Poznan in 1998, Multikino has become the second largest multiplex cinema operator in Poland, operating a circuit of 28 cinemas with 231 screens across 22 Polish cities and two cinemas with 15 screens in the Baltics. Its entire circuit was fully digitalised in 2011.