Kinepolis is acquiring the American cinema chain Emagine Entertainment. The Belgian group is paying around €91 million for the acquisition, it announced Wednesday. Emagine has 14 cinemas with 177 screens and 18,000 seats in the US states of Michigan, Illinois, Indiana, and Wisconsin.
Kinepolis CEO Eddy Duquenne refers to the acquisition as “an important milestone” and “a valuable addition to the Kinepolis portfolio”. “This is the first acquisition of this size since the coronavirus pandemic,” he emphasised.
Emagine Entertainment has 14 cinemas, representing 177 screens and 18,000 seats in the American Midwest. Emagine's cinemas attract around 6 million visitors annually. Turnover amounts to approximately $129 million. According to Kinepolis, based on the results for 2024, the chain will contribute just under $20 million to the group's gross operating profit.
The deal is expected to be finalised by the end of this year. Kinepolis will retain the Emagine brand name.
Kinepolis operates in seven European countries, Canada, and the United States. The group already owned ten cinemas in the US.