Over the past few days, Kinepolis has reached an agreement in principle pertaining to the takeover of the Utopolis group (Utopia SA), subject to certain conditions. Utopia SA comprises 13 cinema complexes located in 4 countries, i.e. the Grand Duchy of Luxembourg, the Netherlands, Belgium and France. In 2014, the Group welcomed 3.4 million visitors and achieved a turnover of EUR 41 million and EBITDA of EUR 7.5 million.
Utopia SA operates 3 cinemas in the Grand Duchy of Luxembourg (two in Luxembourg City and one in Esch-sur-Alzette), 5 in the Netherlands (Oss, Almere, Zoetermeer, Den Helder and Emmen), 4 in Belgium (Mechelen, Turnhout, Aarschot and Lommel) and one in France (Longwy).
The intended takeover of the Utopolis group fits in with Kinepolis Group’s expansion strategy, as it strengthens its position in France and the Netherlands and, with Luxembourg, adds a new market to its portfolio. Utopia SA mainly operates multiplex cinemas and owns the property rights to several of its cinema complexes. A number of complexes are leased from third parties.
In the coming period, all relevant stakeholders will continue their efforts to comply with the conditions associated with the intended takeover, including the finalisation of due diligence. Kinepolis will seek approval from the Belgian Competition Authorities with respect to the takeover of the Belgian cinema complexes.
As part of its expansion strategy, Kinepolis announced the construction of a cinema complex in Brétigny-sur-Orge earlier this year and, earlier this week, the takeover of the French cinema Mégaroyal in Bourgoin-Jailleu.