08/09/2012 - Deal worth €179.8 million

The board of Entertainment One has entered into an agreement with GS Capital Partners and Investissement Québec to acquire Alliance Films, an independent distributor of film and television in the UK, Spain and Canada for approximately 225 million Canadian dollars (€179.8 million). Completion of the acquisition is conditional, amongst other things, on approval being received from the Canadian Competition Bureau.

On completion of the deal, Entertainment One will emerge as one of the largest independent film distributors in the UK and Canada and will have a significant presence in Spain, Benelux, the US and Australia as well. The new entity will have increased access to successful independent film studios through output agreements in Canada including with The Weinstein Company, Focus Features and Relativity.

Darren Throop, President and CEO, Entertainment One, said, “As a result of the acquisition, Entertainment One will be a more competitive business in each of the geographic markets that we serve, allowing us to act as a more valuable partner for content producers and expanding the quality and depth of the content that we offer to our customers.”

Victor Loewy, Chairman and CEO, Alliance Films, said, “Joining the Entertainment One family will provide our dedicated teams and partners more opportunities to work with great films and film makers from around the globe.”

Alliance owns Momentum Pictures in the UK and Aurum in Spain.