Livingstone Has Advised the Shareholders of CineCity on the Sale to Pathé
Livingstone is pleased to announce the firm’s Benelux team has acted as M&A advisor on the sale of CineCity to Pathé. Transaction terms were not disclosed.
CineCity is the largest independent cinema in Zeeland, with locations in Vlissingen and Terneuzen.
The Vlissingen site attracts 250,000 visitors annually, offers eight screens, a wide variety of films, and houses one of the largest theatres in the Netherlands. As the culture hub in the province, it also hosts the prestigious and second largest national film festival “Film by the Sea”, drawing 45,000 guests yearly from both the Netherlands and abroad.
The Terneuzen location features four screens and attracts 30,000 visitors annually. In total, CineCity offers 12 screens, accommodates more than 2,600 seats while employing over 100 staff members. Pathé will retain all current employees under existing contracts and conditions.
Pathé is the largest cinema chain in the Netherlands, founded in Paris in 1896 by the Pathé brothers. It leads in theatre experiences and transactional video-on-demand (TVOD), operating 30 locations with 253 screens and 1,900 employees. Iconic venues like the Royal Theatre Tuschinski showcase films, live opera, gaming, and concerts in formats like IMAX and 4DX. Pathé Thuis extends the experience to home, offering a premium cinema experience both in theatres and at home. The transaction was signed in September 2024 and is expected to close in October 2024.
“I am pleased that CineCity is being taken over by Pathé, the market leader in the Netherlands. It is special to hand over the company I have built with so much passion and dedication. I am fully confident that the team at Pathé is in good hands and that Pathé will not only maintain the quality and service of CineCity, but also further enhance it,” said Ad Weststrate, Founder and Owner of CineCity.
Jacques Hoendervangers, CEO of Pathé Netherlands, Belgium, and Switserland, is excited about adding CineCity to their portfolio: “We are proud of this expansion, which now gives us a presence in the beautiful Zeeland region. We have always looked at CineCity with admiration and are pleased to now add this cinema to our portfolio. CineCity plays an important cultural role in the region, which aligns well with Pathé. For the time being, we will continue to operate under the name CineCity, and we will carry on with what the CineCity team does so well: offering the best cinema experience and a wide variety of films.”
