Kinepolis Group (Euronext: KIN), the Belgian cinema chain, has signed a definitive agreement to acquire 13 Showcase Cinemas from Harbor Lights Entertainment (formerly National Amusements Inc.), marking a significant expansion of its US footprint.
The deal, valued at 30 million dollars, is expected to close by the end of summer 2026.
A strategic move to the East Coast
The acquisition includes 13 high-end cinemas across four states:
- 7 in Massachusetts
- 4 in New York
- 1 in Ohio
- 1 in Rhode Island
Of these, Kinepolis will take full ownership of six locations, while the remaining seven will operate under long-term lease agreements.
The transaction adds 164 screens and 17,794 seats to Kinepolis’ portfolio, with the acquired theaters having welcomed approximately 4 million visitors in 2025, generating over 90 million dollars in revenue.
Showcase Cinemas are known for their premium offerings, including enhanced food services, multiple Premium Large Format (PLF) screens, and recliner seating in 80 percent of auditoriums, arranged in a stadium-style configuration.
Leadership perspective
Eddy Duquenne, CEO of Kinepolis Group, emphasized the strategic importance of the acquisition: “This deal allows us to expand our US presence from Michigan to the East Coast, leveraging both the physical assets and the experienced team at Showcase Cinemas. We see significant potential to implement our operational model and corporate strategy, ultimately enhancing the moviegoing experience in these markets. Additionally, the acquisition provides valuable real estate positions, with opportunities for future redevelopment and optimization.”
Financial and operational details
The enterprise value of 30 million dollars is largely offset by the substantial real estate value of the owned Showcase locations. In 2025, the acquired cinemas achieved approximately break-even theater-level cash flow, indicating a stable operational foundation for Kinepolis to build upon.
Kinepolis has committed to retaining the Showcase Cinemas brand and ensuring continuity for customers, employees, and stakeholders. The company will prioritize a smooth transition, with a focus on integrating its operational expertise while respecting the existing brand identity.
Advisors
Harbor Lights Entertainment was advised by LionTree Advisors (financial) and Latham & Watkins LLP (legal).
Kinepolis Group was advised by EY-Parthenon (financial), PwC (tax), and Dentons (legal).
Next steps
The acquisition is subject to customary closing conditions and regulatory approvals. Kinepolis expects to finalize the transaction by late summer 2026.
