Cinema developer and operator Vue Entertainment has bought the Ster Century UK & Ireland group for an undisclosed sum.
The integration will take Vue’s portfolio to 49 multiplex cinemas with almost 500 screens.
Vue chief executive Tim Richards said: “Their seven cinemas are built to the highest specifications which complements perfectly Vue’s current circuit of 42 cinemas, which is the most modern in the country.
“The expanded Vue circuit will have over 90% of its screens equipped with modern stadium seating, the highest proportion of any major circuit in the UK.”
He added: “We are also looking forward to operating our first cinema in the busy Dublin market and are delighted we have acquired the top-grossing cinema in the UK and Ireland, the Ster Century Liffey Valley multiplex.”
Jonathan Scherer, chairman of Ster Century UK & Ireland, said: “The sale of our company to Vue will place in good hands the cinema business we have built into the fifth-largest in the UK and Ireland.”
The deal was backed by Boston Ventures, Legal & General Ventures and Clarity Partners.
Vue has also completed a deal with The Property Alliance Group to build an eight-screen multiplex cinema at the Jubilee leisure park in Cleveleys, Lancashire.
Construction of the cinema starts this week. Completion is scheduled for Christmas this year.
References: EGi News 03/05/05
