Owner of Finland's Finnkino pays $420 million for 60% share in Sweden's SF Bio
STOCKHOLM – Private equity company Ratos, which owns Finland’s top theater loop Finnkino, has bought a 60% stake in Swedish chain SF Bio for $420 million, creating the Nordic region’s biggest exhib chain.
Deal was inked with Swedish media group Bonnier.
The business will have screens in Sweden, Finland, Norway, Estonia, Latvia and Lithuania. SF Bio and Finnkino will continue to trade under their own names.
SF Bio is the largest exhib group in Sweden, with 43 theaters, 282 screens and 38,000 seats. It logged a record 12.3 million admissions last year in Sweden. It also has theaters in Norway.
Finnkino is the largest operator in Finland and the Baltic states with 24 cinemas, 158 screens and 27,000 seats.
“The new business will have a dream position in the European cinema market,” said Jan Bernhardsson, CEO for SF Bio and the new cinema group. “Both SF Bio and Finnkino are growing profitably today. Together, we gain the power to invest further.”
Pictured above are Jonas Bonnier (CEO of Bonnier), Bernhardsson and Susanna Campbell (CEO of Ratos) at today’s presser.