US private equity firm buys arthouse cinema chain Curzon

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.

The deal will secure the future of Curzon’s 16 sites, 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, which was 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.”