Odeon expands footprint

ROME -- Odeon and UCI Cinemas, which is Europe's largest exhibition chain, is further expanding its European footprint by upping its presence in Spain and Italy. The group, which is owned by U.K. private equity firm Terra Firma Capital Partners, has closed a deal with Gallic loop UGC Cine Cite to acquire nine new multiplexes in the two countries. UCI has now added five multiplexes in Spain, three of which in Madrid, for a total 92 new Spanish screens, and four new Italian facilities, two of which in Rome, for 66 new screens in Italy. UCI now has 494 screens in Spain and 369 in Italy, and has become market leader in Rome and Madrid. The Rome market alone accounts for 10% of the total Italian exhibition market. "We look forward to increasing admissions across the Spanish and Italian markets -- as well as further afield -- in the near future," said Odeon and UCI Cinemas CEO Rupert Gavin in a statement. The moves clearly reflect plans for growth, with additional sites in Austria, Ireland, and Portugal under consideration, the group said. At present, the exhib operates 215 cinemas and 2,039 screens across the continent and is the biggest exhib in Blighty, Spain and Italy, with robust chains in Ireland, Germany, Austria and Portugal.

Contact Nick Vivarelli at nvivarelli@gmail.com

Source: http://www.variety.com/article/VR1118036372?categoryid=13&cs=1&cmpid=RSS%7CNews%7CLatestNews

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