Edinburgh’s Cameo cinema and the Belmont in Aberdeen have changed hands as part of a £47.3 million deal with Cineworld.
The cinemas are part of the 21-strong Picturehouse chain, which will continue to operate as a separate business within the Cineworld group and continue to be run by the existing management team. Picturehouse also has cinemas in Brighton, London and York.
Cineworld is paying £47.3m in cash for the business, which made a pre-tax profit of £2.5m on sales of £30.3m last year, and chief executive Stephen Wiener said the deal would give the group access to new audiences in a growing part of the market.
Wiener added: “We recognise that Picturehouse is valued by its customers and we look forward to supporting the business through the next phase of its development.”
Picturehouse is led by founding director Lyn Goleby, who said: “The opportunity to be part of a public company is great news for Picturehouse and our customers.
“The unique character of Picturehouse cinemas will remain and our team will continue to bring the widest range of film to customers. This acquisition by Cineworld will accelerate the development of further Picturehouse cinemas around the country.”