Film House Buys Stake in Egoli Tossell (Cannes)
CANNES -- New media financing group Film House Germany has acquired a majority stake in Berlin-based production house Egoli Tossell, producers of Golden Globe-winner Carlos, and the Oscar-nominated The Last Station.
The deal provides Egoli Tossell toppers Jens Meurer and Judy Tossell with badly needed capital to funnel into development and production. The company filed for the German equivalent of Chapter 11 earlier this year after being caught in a cash crunch. With Film House on board, Egoli Tossell hopes to fast-track several in-development projects, including Hector and Iain Softley’s ambitious literary adaptation, costume drama Ivanhoe.“
Judy and Jens are great producers with years of experience and a world-wide network,” said Film House CEO Achim Pfeffer. “What we bring to the table is the financial and management know-how needed to build this business longterm.”
As part of the deal, Film House will also take a stake in German indie distributor TimeBandits, a 50-50 joint venture between Egoli Tossell and Hamburg-based Wuste Film. Veteran distribution exec Ipek Zuberthas come on board to run TimeBandits, which will operate independently of Egoli Tossell.
Earlier this year, Film House, a subsidiary of German investment house the ABL Group, acquired a minority stake in another German independent production house, Marco Kreuzpaintner’s Summerstorm.
“With these two companies we want to build up our production operations, as well as expand into distribution, sales and financing” Pfeffer said. “We are also on the look out for other interesting acquisitions.”
Film House’s executive team – Pfeffer, investment manager Timo Dreger and Marc Hansell, head of business and legal affairs — are in Cannes scoping out such possibilities.