Entertainment One Announces Agreement to Acquire Alliance Films
Today the Board of Entertainment One Ltd. announces that it has entered into an agreement to acquire Alliance Films, a leading independent distributor of filmed entertainment products in Canada, the United Kingdom and Spain, from affiliates of GS Capital Partners and Investissement Québec for approximately CAD$225 million.
Completion of the transaction will establish eOne as the largest independent film distributor in both the Canadian and UK markets. Entertainment One's Board believes that the acquisition will strengthen eOne's existing film distribution business and help drive growth.
"The combination of Entertainment One and Alliance Films will create the leading global independent film distribution business which alongside our Television and Family divisions will deliver a strong strategic platform for long term growth. As a result of the acquisition, eOne 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", said Darren Throop, President & CEO, Entertainment One. "I am extremely excited by the opportunities available to us to grow the Group and we look forward to representing the very best in independent film across all of our markets. This acquisition means that eOne is better positioned than ever to generate significant value for shareholders."
Alliance Films and Entertainment One operate in geographies that are highly complementary and, following the transaction, the Group will have an international reach across Canada, the United Kingdom, Benelux, Australia, the United States and Spain. Upon completion of the deal, the Group will have increased access to the most successful independent film studios through output agreements in Canada including with The Weinstein Company, Focus Features and Relativity.