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Kinepolis to take over Luxembourg's Utopia cinemas
Economics

Kinepolis to take over Luxembourg's Utopia cinemas

10.07.2015 From our online archive
It was announced on Friday that Luxembourg's Utopia SA will be taken over by the Belgian cinema chain Kinepolis and gain management control over 13 cinemas in total.

(MH) It was announced on Friday that Luxembourg's Utopia SA will be taken over by the Belgian cinema chain Kinepolis and gain management control over 13 cinemas in total.

While some terms and conditions still need to be met, the cinema groups hope to shortly reach an overall agreement. The transition period will not affect the visitors' cinema experience as the Utopia SA cinemas continue to run normally.

With a total of 13 cinemas in four different countries, Utopia SA has become a successful international cinema chain. While only three cinemas are in Luxembourg City and Esch-sur-Alzette, Utopia SA has branched out, opening five cinemas in the Netherlands (Oss, Almere, Zoetermeer, Den Helder and Hemmen), four in Belgium (Mechelen, Turnhout, Aarschot and Lommel) and one cinema in France (Longwy).

In 2014, the cinema group counted a total of 3.4 million visitors and a profit of 41000000 euros. 

CEO Nico Simon voices his content about the Kinepolis group's interest in the Utopia SA as he proudly looks back at the last 20 years during which the company has grown into a successful cinema chain.

It is the first time that the Kinepolis group will start business in the Grand-Duchy. With more than 2100 employees and 21 million visitors a year, Kinepolis has a total of 35 cinemas in six European countries (Belgium, France, Netherlands, Spain, Switzerland and Poland).