Kinepolis Acquires US Showcase Cinemas for $30 Million
Belgium-based company Kinepolis has acquired the Showcase Cinemas circuit in the United States from Harbor Lights Entertainment for $30 million. Showcase Cinemas operates 13 locations across four U.S. states, with the agreement including ownership of six cinemas and lease agreements for the remainder.
Kinepolis, a company based in Belgium, has completed the acquisition of the Showcase Cinemas circuit in the United States. The deal, valued at $30 million, was made with Harbor Lights Entertainment, formerly known as National Amusements.
The Showcase Cinemas network comprises 13 cinema locations situated across four U.S. states. Specifically, this includes seven sites in Massachusetts, four in New York, one in Ohio, and one in Rhode Island.
Under the terms of the agreement, Kinepolis will assume ownership of six of these cinema properties. The remaining seven locations will continue to operate under existing lease agreements.
According to Variety, Kinepolis has expanded its footprint in the U.S. market through this strategic acquisition.
