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Baltic's Forum Cinemas Parent Company Acquired by UK Firm Featured

2015-04-30

TALLIN: The Baltic states' Forum Cinemas parent company Nordic Cinema Group has been acquired by UK-based private equity group Bridgepoint.

The reported transaction fee is 501m EUR. The Forum Cinemas chain operates 70 screens in nine cities in the Baltic states of Estonia, Latvia and Lithuania. The company’s market share in the region was 58% in 2014.

Bridgepoint struck a deal with previous Sweden-based owners Bonnier Holding and Ratos on April 28. Bonnier will keep a reduced stake of 30% in the company, while 2% will stay with the management of the company.

According to Forum Cinemas’ managing director for Estonia, Mr. Kristjan Kongo, the deal will have little immediate effect on the group’s operations in the country. According to Mr. Kongo, there may still be market room for 1-2 cinemas in Estonia’s larger cities.

Nordic Cinema Group (NCG) operates 66 cinemas in the Nordic and Baltic countries and recorded a turnover of 279 million euros in 2014, with 39 million euros of EBITDA profits.

Bridgepoint is a pan-European investment firm managing over 13 billion EUR of assets.

Sources: Postimees, Nordic Cinema Group

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