Vue Entertainment to acquire Poland's Multikino circuit
U.K.-based Vue Entertainment is acquiring Multikino S.A., a leading Polish multiplex operator.
Multikino opened the first multiplex cinema in Poland in Poznan in 1998 and is today the second-largest multiplex cinema operator in Poland. Multikino operates a circuit of 28 cinemas with 231 screens across 22 Polish cities and two cinemas with 15 screens in the Baltics. The entire Multikino circuit was fully digitized in 2011.
Vue Entertainment operates 116 cinemas and 1,075 screens across the U.K., Ireland, Germany, Denmark, Portugal and Taiwan. The transaction will complete 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. 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 [parent company] ITI has laid.”