Canada's Remstar moves into distribution
EmptyTORONTO -- Canadian independent producer Remstar Corp. has launched itself into movie distribution with backing from a pair of Quebec pension funds.
Montreal-based Remstar said Monday that the Quebec Federation of Labor's Solidarity Fund and the Caisse de depot et placement du Quebec will each contribute CAN$5 million ($4.7 million) to the launch of Remstar Media Partners as a new Quebec movie distributor.
Maxime Remillard, who co-founded Remstar as a film and TV producer in 1998 with brother Julien, did not specify the dollar value of the investment from the Solidarity Fund and the Caisse, which invests in Quebec industry on behalf of the provincial government. But Remillard said that Remstar Media Partners will acquire the distribution rights to about 25 movies, mostly Canadian, over a five-year period.
"With this new vehicle, we plan to significantly increase our Canadian and international presence by assisting producers in financing, distributing and promoting their movies," Remillard said.
Remstar's movie credits include participation in "Death Instinct," starring Vincent Cassel; "Head in the Clouds, starring Penelope Cruz and Charlize Theron; and Stuart Townsend's "Battle in Seattle."