The Ecuadorian cinema chain Multicines made official the purchase of the Cinemark and Five Star Cinemas (Cinext) chains, thereby announcing its expansion. It was already present in Quito, Guayaquil and Cuenca, and now it will add Manta, Ambato and Latacunga.
“With this transaction, Multicines strengthens its market share and consolidates itself as a leading reference in the film exhibition industry in Ecuador,” says Multicines in a statement published this Friday, November 10, 2023.
The chain explains that the brands of the acquired chains will remain for a few more weeks. “Once they come together, customers will be able to enjoy the benefits of Multiplex Cinemas across a wider national network, always maintaining a commitment to providing excellent service and a differentiated experience in all its cinemas.”
https://www.eluniverso.com/noticias/economia/cinemark-multicines-compra-cadena-ecuador-2023-nota/
Its general manager Gonzalo López says that “this important step will allow us to reach more clients in the country with our value and excellent service, consolidating in the entertainment industry. “We are grateful for the loyalty of our customers and are willing to continue investing in the country through our expansion strategy.”
Multiplexes has 27 years in the film exhibition industry. It currently manages 20 cinema complexes equipped with state-of-the-art technology, state-of-the-art sound and 100% digital projection.
Companies watchdog records the purchase, sale and change of shareholders of Cinemark del Ecuador and an operating value of $5.9 million.
Source: Eluniverso
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
