'Top Chef' Producers Magical Elves Near Sale, Series Nabs Season 12 Order at Bravo

Top Chef Anniversary - H 2013

Top Chef Anniversary - H 2013

The reality hit makers, which have been shopping their Los Angeles operation for several months, are close to being acquired by the U.K.'s Tinopolis Group.

Top Chef producers Dan Cutforth and Jane Lipsitz will soon be able to upgrade their cutlery. The Hollywood Reporter has confirmed that their production company, Magical Elves, is nearing a sale to British behemoth the Tinopolis Group.

Magical Elves, behind Bravo's still growing Top Chef franchise, has been entertaining a potential sale for several months. And while terms of the deal were not available, Magical Elves is considered to be worth over $100 million.

STORY: Bravo Orders Another Top Chef Spinoff

On Thursday, Bravo also made official its plans for a twelfth installment of Top Chef. The latest renewal for the veteran hit comes just two weeks after Bravo ordered a fourth spinoff for the series, Top Chef Extreme.

In addition to the company's many TV projects, Magical Elves has also ventured into theatrical releases -- releasing Justin Bieber Never Say Never and Katy Perry Part of Me. Founded in 2001, Magical Elves sprawling TV catalog also includes TNT unscripted foray Cold Justice, Showtime's Time of Death, Braxton Family Values, Tamar and Vince and The Real L Word.

Reps for the Wales-based Tinopolis did not immediately respond to request for comment, but the giant producer and distributor has interests in unscripted, scripted, sports and digital efforts. Some of its best known TV properties include An Idiot Abroad, American Ninja Warriors and Gordon Ramsay's Kitchen Nightmares -- the latter of which it inherited in purchasing U.S.-based A. Smith & Co.

Magical Elves' sale to Tinopolis will follow a growing number of smaller reality producers being acquired by larger media companies. Soon after the success of Duck Dynasty, producers Gurney Productions was sold to ITV.