PRESS RELEASE – December 18, 2018: Kinepolis Group has reached an agreement for the acquisition of two Spanish cinemas, Full Cinemas in Barcelona and El Punt Ribera in Valencia. Both cinemas are part of the El Punt cinema group, which is owned by the Sallent family. The El Punt Vallès cinema, also located in Barcelona, is not included in the transaction.
The Full megaplex in Barcelona has 28 screens with a total of 2,687 seats and welcomes more that 1.3 million cinema-goers each year. It is the second-largest cinema in Spain after Kinepolis Ciudad de la Imagen in Madrid. The complex is rented and situated in the commercial center Splau in Cornellá de Llobregat, close to the airport and 14 km south of Barcelona. The Full cinema complex is the flagship of the El Punt group; all screens boast 4K projectors and 19 screens have Dolby Atmos sound.
The El Punt Ribera cinema is located in a commercial district in Alzira, 44 km south of Valencia. The complex, whose property is in ownership, has 10 screens, each featuring Dolby 7.1 sound, and 2,528 seats, and attracts more than 300,000 visitors annually.
Eddy Duquenne, CEO of Kinepolis Group, stated, “I am very excited about this latest acquisition. The philosophy of El Punt aligns very well with that of Kinepolis: They aim for quality and constantly try to improve the products and services they offer. Innovation is at the forefront, illustrated by the extremely well equipped theatres featuring the latest in digital technology. This acquisition will further strengthen our market position in Spain and will allow us to offer the Kinepolis experience to an even wider audience.”
The transaction has an enterprise value of € 25.8 million. The acquisition is subject to approval by the Spanish competition authority.
Kinepolis currently has six cinemas in Spain, totalling 99 screens and more than 28,000 seats. Following this new acquisition, Kinepolis will operate the three biggest cinema complexes in Spain: Kinepolis Ciudad de la Imagen in Madrid, Full in Barcelona and Kinepolis Valencia.