The Curzon cinema chain, best known for its flagship picture houses in Mayfair and Soho, has been snapped up by the US investment group that owns Majestic Wine and Poundstretcher.
Fortress Investment Group acquired Curzon’s 16 locations, with 46 screens in total, its film distribution company Curzon Films and online streaming service Curzon Home Cinema, preserving a total of more than 350 jobs.
The acquisition price has not been disclosed but the company has made heavy losses in recent years.
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
“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.”
Curzon was founded in 1934 when the Curzon Mayfair opened and was one of the first companies to introduce international film and foreign language films to UK audiences, as well as Hollywood releases. The cinema, which is known for its premieres and celebrity screenings was at the centre of a row over its redevelopment last year. The second location, Curzon Bloomsbury, opened in 1972.
In recent years the company has opened new cinema locations in Hoxton, Camden, Kingston-upon-Thames and Canterbury. In London it also has sites at Aldgate, Richmond, Victoria and the South Bank with a new venue at Hammersmith planned for next year.
Curzon Film, the company’s distribution business, has had notable successes in the past year, including the release of Kneecap – a film Curzon helped develop – which, in partnership with Wildcard Distribution, has grossed over £2 million at the UK and Ireland box office. Kneecap recently received 14 nominations from the British Independent Film Awards.
Alice Rohrwacher’s La Chimera grossed over £930,000 for Curzon Film, including an 18-week run at the Curzon Bloomsbury.
Curzon’s forthcoming slate includes Flow and Julie Keeps Quiet, which have been selected to represent Latvia and Belgium respectively at the Oscars.
The Curzon Home Cinema streaming service was launched in 2010.
