Odeon grows after sale to Cinven

Up to 57 ABC cinemas in the UK are set to be converted to the Odeon brand, following the sale of Odeon cinemas to private equity group Cinven last week.

Wolff Olins, which has worked closely on the rebranding of the Odeon chain, is expected to be consulted, although a consultancy spokeswoman says it has not been discussed. Cinven, which will pay £280m to current owner Rank Group, is to drop the ABC identity, in a move which will see the Odeon management team put in charge of the merged chain.

In a statement Cinven also says the “geographically complimentary circuits” of ABC and Odeon will bring increased “promotional opportunities”, and “a chance for Odeon’s proven management team, which has transformed the fortunes of the business in recent years, to exercise their skills over a larger portfolio.”

Odeon claims to have spent £90m on refurbishment (headed by Wolff Olins) over the past three years. The deal makes Odeon 60 per cent larger than UCI, its nearest competitor, which owns 16.5 per cent of the market.