The Mexican Cinépolis enters the Spanish market when buying Yelmo Cines

Cinépolis closes a negotiation to acquire and the cinemas that have 414 rooms in 37 complexes distributed over twenty Spanish cities.

The Mexican company Cinépolis has closed the purchase of Yelmo Cines, the second largest cinemas in Spain, which begins its expansion plans in Europe.

With around 12 million attendees a year, Yelmo Cinemas has 414 rooms in twenty cities in Spain. With this acquisition, Cinepolis increases its number of screens, from 3,934 to 4,348 rooms.

Miguel Mier, General Director of Operations of Cinépolis, acknowledges that “for 12 years we have operated in such diverse markets, such as Central America, the United States or India. This learning will result in bringing our best practices to the attractive Spanish market”:

Arturo López Martín, General Director of Investments at Cinépolis, commented that “the acquisition of Yelmo Cinemas is a fundamental step in our international expansion. Yelmo gives us the best possible platform to enter the film exhibition market in Spain, a country with an economy in recovery and with the projected growth of the highest GDP of the Eurozone”.

Fernando Évole, a new country manager of Cinepolis for Spain, points out that "this operation will allow Yelmo Cinemas to be part of the best cinemas in the world which will undoubtedly provide us with many opportunities to continue growing and develop the exhibition business in Spain."

Cinepolis will operate practically in all the autonomous communities of Spain, with presence in cities such as Madrid, Barcelona, Bilbao, Valencia, Malaga, La Coruña, Santa Cruz de Tenerife, Alicante, Oviedo and Gijón.