Canadian producer and distributor Entertainment One (eOne) has acquired rival distribution firm Alliance Films for US$230 million.
The deal comes after months of negotiations and will see eOne pay cash and take on debt. It will see the new company become the largest film distributor in Canada and the UK and will also have operations in Benelux, Australia, the United States and Spain.
Alliance’s film library includes Pulp Fiction, Good Will Hunting, Lord of the Rings, The King’s Speech and The Hunger Games and the new company will have a library of more than 35,000 film and television titles.
Entertainment One’s group CEO Darren Throop said: “The combination of Entertainment One and Alliance creates a market leading 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, 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. I am extremely excited by the opportunities available to us to grow the enlarged group and we look forward to representing the very best in independent film across all of our markets. This acquisition means that Entertainment One is better positioned than ever to generate significant value for shareholders.”