BERLIN — German theater chain Kieft & Kieft said Thursday that its partner Greater Union’s decision to halt expansion in Europe would barely affect their German joint venture.
The company said it is negotiating around 20 sites in Germany with GU, which holds 50% in Kieft & Kieft.
“After these projects are completed, the German market will be close to saturation anyway,” a spokesperson told Daily Variety. However, Greater Union’s turnaround in Europe means Kieft & Kieft will now go it alone across the continent.
Kieft & Kieft has designs on Switzerland and the Czech Republic, and operates a joint venture in Italy with Mediaport.
GU announced in early March that it was restricting its construction plans in Europe to sites to which it already had committed. Company has been building in Poland, the Netherlands and Germany.
The partners will continue their joint venture in Holland, where 10 houses are planned with local player the Wolf Group.