AN HISTORIC Knutsford cinema has a new owner.
Arthouse cinema chain Curzon has been snapped up by US private equity giant Fortress.
Fortress, which also owns Majestic Wine, Poundstretcher and Punch pub group, has bought the cinema group for an undisclosed sum.
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The deal will secure the future of Curzon’s 16 sites, including the cinema on Toft Road, its film distribution company and online streaming service, and more than 350 jobs.
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.
Curzon, founded in 1934, is one of the UK’s leading arthouse brands and screened some of the first foreign language films in the UK.
It has numerous cinemas in London but also expanded into cities such as Oxford and Canterbury.
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.”
The Curzon in Knutsford underwent a £1 million refurbishment in 2018, transforming the cinema from one screen to three.
Luxury Norwegian seating was installed alongside an improved sound system and an extended café bar.
The building is steeped in history having opened as a Civic Centre Cinema in the 1960s.
In the early 1990s, it was renamed the Studio, until the London-based Curzon Group took over in 2013 and renamed it as Curzon Cinema.
The independent group wanted to create an experience totally different to the large multiplex cinemas with a smaller, more intimate setting and a more personal approach.
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