Fri, 28 Aug 2015 | BUSINESS SALE
A business sale could be on the cards for the Odeon cinema chain after its owner Terra Firma confirmed the company has been pushed back into profit.
A total of 243 cinemas are operated by the Odeon and UCI chains in the UK and Europe and while it had struggled with a £40 million loss last year, things are looking up in 2015.
The chain reported a £14.5 million profit for the first half of the year, thanks largely to a string of big budget action films which have tempted audiences out to the cinema. Jurassic World, Fast & Furious 7 and the Avengers: Age of Ultron have all worked in Odeon's favour to encourage customers.
Paul Donovan, chief executive of Odeon last year, said that more blockbusters are coming and that the fourth quarter of the year will be “one of the biggest quarters ever in the UK market”.
However, while it has been acknowledged that a sale is due before the end of the year, Mr Donovan refused to be drawn further on details in discussions with The Telegraph: “It's completely up to Terra Firma when and how a sale of the business would be executed. My job is to make sure that if that's the case there's a business which is performing really well and delivering for customers and shareholders.
“I think we're making good progress with our strategic changes. There's a lot been done and a lot more to do.”
Terra Firma bought Odeon and UCI 11 years ago for €650m and €350m respectively. The owner merged the two into one.
View other businesses on the market.
A well established premium eyewear designer and manufacturer operating throughout the UK and overseas.
A turnkey freehold hotel, restaurant and wine bar business opportunity located in Jedburgh; a pretty town in the Scottish Borders with a high concentration of attractions within small parameters
LEASEHOLD
Represent a West Midland based specialist printing services company seeking an industry savvy acquirer, or an interested newcomer.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
12
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
06
|
Jun
|
Wyevale garden centre group put up for sale | BUSINESS SALE
Wyevale Garden Centres across Britain are to be sold after p...
15
|
Jun
|
Vue sold to Canadian pension funds | BUSINESS SALE
Vue Entertainment, one of the largest cinema chains in Europ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.