AMC Theatres is expanding globally with their latest acquisition of London-based Odeon & UCI Cinemas Group, Europe’s largest movie theater chain, for $1.2 billion. Odeon & UCI oversee 242 theaters and 2,236 screens, selling 90 million tickets annually. This past March, AMC bought U.S. exhibitor Carmike too for $1.1 billion, making AMC the world’s largest theater chain.
Of the London acquisition, CEO Adam Aron said in a statement,
“While we acknowledge that there are some uncertainties related to Brexit, we are encouraged that current currency rates are highly favorable to AMC with the pound falling to a three decade low versus the dollar.”
With these recent buys, AMC would now control 627 theaters and over 7,600 screens in eight countries.
