EuropaCorp adds to bulk via Roissy buy
EmptyEuropaCorp plans to expand its Gallic film production and distribution empire with the acquisition of French indie company Roissy Films, the group said Monday.
EuropaCorp is expected to spend up to €28 million ($39.8 million) on the acquisition, which is set to become effective in January.
The company will inherit Roissy's catalog of about 500 titles, including 400 feature films, and the prequel, remake and sequel rights to those movies. The acquired titles also will benefit from EuropaCorp's VOD agreements with seven different platforms.
"We have been convinced for some time of the attractions for EuropaCorp of acquiring a catalog of films to strengthen the group's asset base and fill out its offering, particularly for the video market and for TV channels," EuropaCorp chairman Luc Besson said. "EuropaCorp is delighted to have reached this agreement with Roissy Films, one of the very few independent companies in the market with a catalog of such quality and size."
Roissy has had a stellar year thanks in part to its recent title "Caramel." The Lebanese comedy sold 160,000 tickets in its first week of release, has been sold worldwide and is Lebanon's submission for the best foreign-language film Oscar.
"We chose EuropaCorp be-cause of its versatility and professionalism. EuropaCorp's force lies in its experience and the competence of its staff who are all true professionals," Roissy Films chairman and CEO Raphael Berdugo told The Hollywood Reporter.
The deal comes after EuropaCorp made its debut on the Paris stock market this year as part of an effort to raise capital to better compete with major Hollywood studios.