The arthouse cinema chain Curzon has been snapped up by US private equity giant Fortress, who also owns Majestic Wine, Poundstretcher and Punch pub group, for an undisclosed sum.
Fortress’ new deal will secure the future of Curzon’s 16 sites, its film distribution company and online streaming service, and more than 350 jobs.
Curzon, which was founded in 1934, is one of the UK’s leading arthouse brands and screened some of the first foreign language films in the UK.
READ MORE: ‘Expired milk and pest risk’ at back-to-back ZERO hygiene-rated Westgate shop
Curzon cinema in Oxford. (Image: Experience Oxfordshire)
It has numerous cinemas in London but has also expanded into other cities such as Oxford and Canterbury.
It comes after the business, which had been owned by US real estate magnate Charles Cohen since 2019, was put up for auction earlier this year.
Fortress reportedly lent Mr Cohen millions of dollars but sued him earlier this year for default and then became the only bidder at a foreclosure auction for Curzon.
Allison Swayze, managing director at Fortress, said: “Curzon is an iconic film company, with global recognition for its long legacy of releasing and connecting independent and critically acclaimed films to UK audiences.
READ MORE: New shop opens to massive queues at Westgate in city centre
🚨Unlock unlimited local news subscribe today and save 30 per cent off an annual subscription 🚨
Enjoy access to our ad-free mobile and tablet app, as well as the digital edition of the paper. Don’t miss out – subscribe now! 🗞️
Find out more here 👇https://t.co/ah8JiJRQ1m pic.twitter.com/2nFFe1rka1
— Oxford Mail (@TheOxfordMail) October 30, 2024
“We’re pleased to acquire Curzon, and bring our support to the company’s dedicated team.
“Curzon has exciting near-term plans which include expanding its cinema footprint and delivering awards and release plans for an exciting slate of films.
“Our acquisition secures the jobs of more than 350 employees, and helps Curzon continue to offer film fans a range of independent and blockbuster movies both in cinema and at home.”
Help support trusted local news
Sign up for a digital subscription now: https://www.oxfordmail.co.uk/subscribe/
As a digital subscriber you will get:
- Unlimited access to the Oxford Mail website
- Advert-light access
- Reader rewards
- Full access to our app