London, Luxembourg, Warsaw – 13 May 2013
Vue Entertainment, the ITI Group and AREA Property Partners announce today that Vue Entertainment is to acquire Multikino S.A. (“Multikino”), 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 2 cinemas with 15 screens in the Baltics. The entire Multikino circuit was fully digitalised in 2011.
The transaction will complete once the approval of the Polish Office for Competition and Consumer Protection is obtained.
Vue Entertainment is a world-class operator of modern state-of-the-art multiplex cinemas, with 116 cinemas and 1,075 screens across the UK, Ireland, Germany, Denmark, Portugal and Taiwan.
Wojciech Kostrzewa, President and CEO of the ITI Group states “Since its inception back in 1998 Multikino has been promoting the highest standards in cinema operations and management, establishing itself as the most innovative network in Poland. We are proud to announce the acquisition of Multikino by Vue Entertainment who we know will continue to support and develop Multikino’s high standards.”
Tim Richards, CEO of Vue Entertainment comments, “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 ITI has laid.”
For further information please contact:
T: +44 207 343 3124
T: +44 207 343 3128
T: +41 44 258 88 40
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