Landmark Cinemas Canada LP, a portfolio company of Canadian private equity firm TriWest Capital Partners, has agreed to be acquired by Kinepolis Group NV, a Ghent, Belgium-based cinema chain. No financial terms were released. Founded in 1965 with a single screen, Calgary-based Landmark currently operates 44 cinemas and a total of 303 screens throughout Western Canada, Ontario and the Yukon Territory. Acquired by TriWest in 2014, the company at the same time added to its portfolio assets bought from Empire Theatres. The latter deal, which was financed by TriWest, made Landmark Canada’s second largest theatre exhibition company.
Kinepolis Group NV reaches agreement to purchase Landmark Cinemas Canada LP
CALGARY, Sept.18, 2017 /CNW/ – Landmark Cinemas Canada LP & TriWest Capital Partners are pleased to announce Landmark Cinemas LP has reached an agreement to be acquired by Kinepolis Group NV. The conclusion of the transaction is subject to customary government approvals.
Landmark Cinemas Canada LP, located in Calgary, Alberta, is Canada’s second largest theatre exhibition company. Founded in 1965, Landmark operates 44 cinemas and a total of 303 screens throughout Western Canada, Ontario and the Yukon Territory including five IMAX®, four ‘Extra’ and one ‘Xtreme’ screen.
Kinepolis Group NV located in Ghent, Belgium, was formed in 1997 through the merger of two family cinema groups and was listed on the stock exchange in 1998. Kinepolis offers an innovative cinema concept which serves as a pioneering model within the industry. Kinepolis Group NV has 48 cinemas, and a total of 500 screens spread across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. In addition to its cinema business, the Group is also active in film distribution, event organization, on-screen advertising and property management.
“Landmark’s significant investment in recliner seating to create an industry-leading movie-going experience aligns directly with similar initiatives by Kinepolis across Europe,” said Neil Campbell, Chief Executive Officer, Landmark Cinemas Canada. “Combining with Kinepolis will also provide Canadian movie lovers with greater access to world class cinema experiences.”
Eddy Duquenne, CEO of Kinepolis Group, says: “Both Kinepolis and Landmark Cinemas are passionate about offering the ultimate customer experience. The combination of the Kinepolis three-pillar strategy of being the best cinema operator, the best marketer and best real estate manager, its focus on providing an excellent customer experience, also through the use of enhanced customer feedback tools, together with its financial strength provides a unique opportunity to accelerate the growth of the Landmark Cinema network in Canada. Working together, the two groups will be able to create long-term value, resulting in an unparalleled customer experience for the Canadian moviegoers.”
“The innovative and entrepreneurial culture that we have been fortunate to build over the past 52 years at Landmark matches perfectly with Kinepolis,” said Brian F. McIntosh, Executive Chairman, Landmark Cinemas Canada. “Joining the Kinepolis family is a terrific opportunity for Landmark’s people, who will continue to lead the Canadian business and build their careers as part of a global leader in the cinema industry. Our guests and business partners will also benefit from the expertise that Landmark will be able to leverage from Kinepolis.”
About Landmark Cinemas Canada LP, Canada’s second largest motion picture, theatre exhibition company. From a single screen in 1965, today Landmark Cinemas continues to provide the perfect setting for Movie Lovers to connect and share the perfect movie-going experience. We are connected to the communities we serve and our Cast and Crew are proud to support Kids Help Phone programs and initiatives. The corporate headquarters for Landmark Cinemas is in Calgary, Alberta. For additional information: landmarkcinemas.com
About Kinepolis Group NV
For additional information: https://corporate.kinepolis.com/en
For further information: Media inquiries to: Bill Walker, Chief Operating Officer, LANDMARK CINEMAS, Direct: +1 (403) 813-7114, Email: email@example.com; Kinepolis Press Office: +32 (0)9 241 00 16, firstname.lastname@example.org
Photo courtesy of CNW Group/Landmark Cinemas