Vue Cinemas Acquires Second Largest Theater Chain in Netherlands
The $97 million deal marks U.K.-based Vue's fourth purchase in three years.
Vue Cinemas, the U.K.-based theater chain with operations across Europe and the fourth largest in the world in terms of box office revenue, has acquired JT Bioscopen, the second-largest chain in the Netherlands.
The $97 million dollar deal is the company’s fourth purchase in three years, and brings its total number of sites to over 200 in 10 countries. JT has 21 cinemas and 111 screens across 20 towns and cities.
“International expansion is an important element of our growth strategy and we are delighted to have acquired JT, enabling us to enter the buoyant Netherlands cinema market,” said Vue’s founder and CEO Tim Richards.
“This acquisition signals our commitment to owning, managing and developing the highest quality cinema assets around the world. Our ambition is to be the best in big screen entertainment and to be at the forefront of technological development. I am excited about the growth plans for JT and looking forward to working with JT’s Managing Director Ron Sterk and his team.”
Last November, Vue picked up Italy’s largest cinema chain, Space Entertainment and over the previous two years acquired Apollo in the U.K., CinemaxX in Germany and Denmark and Multikino in Poland and the Baltics.