Entertainment One Acquires Alliance Films, Inc.
Today the Board of Entertainment One Ltd. ("eOne" or "the Group") (LSE:ETO) announces the completion of its transaction to acquire Alliance Films, a leading independent distributor of filmed entertainment products in Canada, the United Kingdom and Spain, from affiliates of Goldman Sachs Capital Partners and Investissement Québec for approximately CAD$225 million. The completion of the transaction follows clearance by the Canadian Competition Bureau last week.
With international reach across Canada, the United Kingdom, Benelux, Australia, United States and now Spain, the acquisition unites two independent film distribution leaders under eOne and establishes the Group as the largest independent film distributor in both the Canadian and UK markets.
The integration of Alliance Films significantly broadens eOne's filmed entertainment library to over 35,000 titles; enhancing its offering of premium content across all platforms.
"This acquisition delivers on eOne's long-term growth strategy to invest in content, maximize rights ownership and expand our international footprint," said Darren Throop, President & CEO, Entertainment One. "We want to recognize Alliance's leaders who have built a passionate team with a remarkable understanding of the international film business and their markets. We look forward to forging relationships with our new partners, representing the very best in independent film across the globe, and delivering opportunities for continued growth by eOne on a multi-territory multi-platform basis. This acquisition better positions eOne to generate significant value for shareholders."
eOne now offers more opportunities to work with quality films and talented film makers from around the globe. In addition to eOne's existing output and strategic distribution relationships with Summit, Lakeshore, Lava Bear, Morgan Creek, among others; the transaction brings eOne output agreements with Lionsgate in Canada, Summit and Lionsgate in Spain and Relativity in Canada and the UK.
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