AMC Entertainment on Monday agreed to acquire Nordic Cinema for $929 million as the company continues to expand its reach.
The acquisition comes after AMC’s $1.1 billion purchase of Carmike Cinemas, which closed in December.
Stockholm-based Nordic is the largest theater operator in Scandinavia, the Nordic and Baltic regions of Europe. The company operates 68 theaters and has a “substantial minority interest,” about 50% ownership, in another 50 associated theaters, according to a statement.
AMC is purchasing Nordic from European private equity firm Bridgepoint and Swedish media group Bonnier Holding in an all-cash deal.
Nordic’s theaters are number one in market share in Sweden, Finland, Estonia, Latvia and Lithuania. They are currently number two in market share in Norway and the company also has theaters in Denmark.
Upon completion of the deal, AMC will operate 1,000 theaters with 11,000 screens in 15 countries in the US and across Europe. That is a “never before reached milestone,” the company said.
Full content: The Street
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