Vue Entertainment (Vue), the world class operator and developer of modern state-of-the-art multiplex cinemas has today completed the acquisition ofMultikino S.A. (“Multikino”), a leading Polish multiplex operator.
Vue is a pan-European market leader and one of the largest cinema operators in the world. Over the last three years, it has doubled the number of cinemas under its ownership from 70 to 147 and nearly doubled its screens from 679 to 1,335. In addition to Multikino, Vue acquired Apollo Cinemas in the UK in May 2012 and CinemaxX, Germany’s second largest multiplex cinema operator in July 2012. The company has also rolled out state-of-the-art digital projection technology across its circuits, opened a number of new cinemas including two of the top three highest grossing cinemas in the UK and Ireland (at Vue Westfield London and Vue Westfield Stratford City) and continued its market leading alternative programming delivering even greater choice for its customers through the screening of music concerts, sports, opera, theatre and other events.
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.
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, Multikino perfectly complements our existing business in Europe. We are delighted to welcomeMultikino to the Vue family.”
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Formed in May 2003, Vue Entertainment is a world class operator and developer of modern state-of-the-art multiplex cinemas. Following the acquisition of the Apollo UK circuit in May 2012, the takeover of CinemaxX in July 2012 and the acquisition of Multikino in September 2013, Vue is now operating over 1,300 screens across 146 multiplex cinemas in the UK, Ireland, Germany, Denmark, Portugal, Poland, Lithuania, Latvia and Taiwan. In August 2013 OMERS Private Equity (“OPE”), the private equity investment arm of the OMERS pension plan, in equal partnership with Alberta Investment Management Corporation (“AIMCo”) acquired Vue Entertainment for an enterprise value of £935m. For further information visit www.myvue.com.