Dutch distrib RCV sold to Entertainment One
EmptyAMSTERDAM -- Dutch-based indie distributor RCV, which distributes across Benelux, has been snapped up by North American outfit Entertainment One, RCV owner Sanoma said Wednesday.
The agreement marks Entertainment One's second acquisition in the European market and follows the company's stated strategic aim to become a global entertainment content ownership and distribution business.
RCV will become part of Entertainment One's Filmed Entertainment division headed by president Patrice Theroux.
RCV Entertainment is the largest independent distributor of filmed entertainment in the Benelux countries. In 2006 RCV Entertainment had net sales of about € 31 million and employed 46 people. The gain on the sale of RCV amounts to about € 23 million.
"This deal represents another significant step in our strategy, further enhancing our position as a leading international film and entertainment content owner and distributor," Entertainment One CEO Darren Throop said. "Following our acquisitions earlier in the year of Contender in the U.K. and Seville in Canada, and our multiterritory distribution agreement with Summit Entertainment, we have now established ourselves as a multiterritory distributor of significant scale in the international market place. RCV is a clear market leader in the Benelux and we at Entertainment One are thrilled to have them on the team."
RCV was sold to Entertainment One through a controlled auction led by ING Corporate Finance.