Entertainment One has unveiled its long-awaited deal to acquire rival Alliance Films, and its Canadian, UK and Spanish distribution assets, from Goldman Sachs Capital Partners and Investissement Quebec, as part of a deal potentially worth C$272 million.
The deal, first revealed as on-going negotiations between eOne and Alliance Films last May during the Cannes Film Festival, will see eOne bolster its Canadian and UK operations and get a new business in Spain, where Alliance Films operates Aurum Producciones.
eOne also gets new output agreements in Canada with The Weinstein Company, Focus Features and Relativity Media, among others.
“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,” eOne president and CEO Darren Throop said Friday in a statement.
The deal comes as eOne earlier this year stepped up its US film distribution operation as part of a global push.
eOne is financing the acquisition in part through a share issue, and the deal is contingent on Alliance Films achieving box office targets for its current release slate.
From Playback online