Major Belgian movie merger: Kinepolis acquires Utopolis

Major Belgian movie merger: Kinepolis acquires Utopolis

Belgian movie theater group Kinepolis has struck a deal with its competitor Utopolis about a possible acquisition. Utopolis currently has 13 movie theaters in 4 countries, adding mostly to Kinepolis's market share in Belgium and the Netherlands.

Luxembourg is new market

The merger mainly affects Kinepolis' home territory, Belgium. Market leader Kinepolis will add 4 new movie theaters to its existing 11 there. It will also expand its French presence from 8 to 9, its Dutch presence from 9 to 14 and the Grand Duchy of Luxembourg will become its seventh market in total. 

 

Last year, Utopolis welcomed 3.4 million visitors and generated 41 million euro in turnover. Kinepolis on the other hand welcomed nearly 20 million visitors and generated 263 million euro in 2014.

 

"The intended Utopolis acquisition fits Kinepolis Group's expansion strategy, which is to strengthen its position in France and the Netherlands, while adding a new geographical market thanks to Luxembourg", Kinepolis said in a press release. Things are not finalized yet, as both parties still have to discuss the finer points of the deal, including due diligence.

 

 Earlier this week, Kinepolis had already unveiled its acquisition of the French Mégaroyal movie theater in Bourgoin-Jailleu and the construction of a new movie theater in Brétigny-sur-Orge.

Questions or comments? Please feel free to contact the editors


Alibaba subsidiary on its way to Belgium

23/01/2018

Chinese Alibaba is looking whether it will open an Ant Financial store in Brussels, but it has not taken a final decision just yet. Its subsidiary is focused on financial products, like Alipay.

Unilever will cut jobs at Belgian retail sales team

22/01/2018

Unilever Belgium will restructure its team of store representatives and cut eleven jobs. The company confirmed that to RetailDetail.

Retail & wholesale support EU Plastics Strategy

19/01/2018

(Content provided by EuroCommerce) The retail and wholesale sector sees the publication of the EU Plastics Strategy as a welcome step towards a more circular economy, which it hopes will transform the way plastics are produced, used and discarded.

LensGroup acquires two German web shops

18/01/2018

Belgian LensGroup, which owns lens web shop LensOnline, has acquired two German competitors.The entry on the German market means the company is now active in five European countries.

Will your company win the bpost Omnichannel Award 2018?

18/01/2018

Which retailer will succeed Juttu in 2018 as the winner of the bpost Omnichannel Award? Candidates can now register, the award will be presented during the RetailDetail Omnichannel Congress on 1 March.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

Back to top