Belgium-based Kinepolis has reached an agreement to acquire Michigan-based movie theatre chain Emagine Entertainment.
As a result of the agreement, Kinepolis will add 14 cinemas to its portfolio, representing 177 screens and 18,000 seats. The theatres are in Indiana, Michigan, Illinois and Wisconsin. Emagine Entertainment also provides support services to a chain of cinemas in Minnesota and Colorado, as well as Emagine Woodhaven and The Riviera in Michigan.
“The location and size of the cinemas make them a valuable addition to the group's portfolio, allowing us to expand our presence in the U.S. market and strengthen our national structure,” said Eddy Duquenne, Kinepolis Group CEO, in a press release. “We are excited to welcome the new teams to the Kinepolis family.”
Emagine Entertainment serves approximately 6 million visitors annually, generating nearly $129 million in revenue.
“Kinepolis has a reputation for operating exceptionally well-run cinemas both in Europe and in North America,” Paul Glantz, Emagine Entertainment chairman and CEO, said. “Their commitment to providing guests with an unforgettable movie experience makes them the ideal suitor to continue the stewardship of Emagine into the future.”
Kinepolis expects to complete the acquisition by the end of 2025.
In Europe, Kinepolis operates 63 cinemas across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. Since the acquisition of Canadian movie theatre group Landmark Cinemas and American movie theatre group MJR Theatres, Kinepolis also operates 35 cinemas in Canada and 10 in the US. In total, Kinepolis Group operates 108 cinemas worldwide, with a total of 1,137 screens and over 200,000 seats.
