Butler brothers sell nine Irish cinemas to Odeon ICI
ENTERTAINMENT ENTERPRISES, the company controlled by Ciaran and Colum Butler, has sold its cinema interests to Odeon UCI, five years after the brothers bought three cinemas from Odeon.
Yesterday, UK-based Odeon UCI announced it had bought nine cinemas from Entertainment Enterprises – two former UCI cinemas at Blanchardstown and Coolock; the UCI cinema at Newbridge; the former Ormonde cinema in Stillorgan, which is being refurbished; and the five Storm Cinemas in Cavan, Portlaoise, Limerick, Naas and Waterford. However, Odeon has been managing the day-to-day operations of the cinemas for Entertainment Enterprises since September 2006.
Entertainment Enterprises has also signed leases to operate a nine-screen cinema at Charlestown and a six-screen cinema at the Point in Dublin, which both form part of the transaction. Odeon is in discussions to include a 400-seat Imax screen at the Point.
Colum and Ciaran Butler’s other interests include the Leisureplex chain and TGI Friday’s restaurants.