The third largest UK cinema chain has been bought for a reported $750m.
Doughty Hanson has purchased the UK’s third largest cinema chain from investor Cavendish Square Partners. A spokesperson for Vue would not confirm the exact amount of the sale, but the figure is believed to be around $750m.
With 68 cinemas and 678 screens, Vue has the third largest market share in the UK in terms of box office, following Cineworld and Odeon. It has been suggested that Vue CEO Tim Richards may now try to take over the two rivals.
Richards described Doughty Hanson as the “ideal partner for Vue, as it shares our vision of driving attractive growth and investment returns by consistently delivering an excellent entertainment experience for our customers.”
He added that the cinema chain would “continue to innovate, enhance and grow the business. We will continue to open fantastic new state of the art cinemas such as the new 14 screen all digital Vue multiplex cinema in Westfield’s Stratford City which opens in September next year.”