Landmark Cinemas, which owns and operates a 10-screen facility at The Shops at New Westminster, has been sold to a Belgium-based company.
The Calgary-based Landmark announced Monday it had been bought by Kinepolis Group NV. According to flandersnews.be, the purchase price is 84.2 million euros which is approximately C $123.35 million. The deal is subject to Canadian regulatory approval.
Landmark was founded in 1965 and operates 44 cinemas with a total of 303 screens in Western Canada and Ontario, according to a Landmark press release. Kinepolis has 48 cinemas with 500 screens across Europe.
“Landmark’s significant investment in recliner seating to create an industry-leading movie-going experience aligns directly with similar initiatives by Kinepolis across Europe,” said Landmark chief executive officer Neil Campbell in the release. “Combining with Kinepolis will also provide Canadian movie lovers with greater access to world-class cinema experience.”
Landmark, which is the second-largest cinema chain in Canada, recently completed renovations at its New Westminster cinema.
– Grant Granger
