eOne’s Throop and Theroux to lead combined company as Alliance’s Loewy and Layton exit.
Entertainment One (eOne) has completed the transaction to acquire Alliance Films in a deal worth $228m. The completion of the transaction follows clearance by the Canadian Competition Bureau last week.
eOne President and CEO Darren Throop will lead the company and eOne’s Patrice Theroux will continue to head the film business. In the first exits announced, Alliance CEO Victor Loewy and former Alliance President Charles Layton have left the company to “pursue other interests.” The companies now begin the “intergration process” that will bring other staff departures.
The film distribution powerhouse now has reach across Canada, the UK, Benelux, Australia, the US and Spain. The combined companies create the largest independent film distributor in Canada and the UK. The eOne library now has more than 35,000 titles.
“This acquisition delivers on eOne’s long-term growth strategy to invest in content, maximize rights ownership and expand our international footprint,” said Darren Throop, President & CEO, Entertainment One.
“We want to recognize Alliance’s leaders who have built a passionate team with a remarkable understanding of the international film business and their markets. We look forward to forging relationships with our new partners, representing the very best in independent film across the globe, and delivering opportunities for continued growth by eOne on a multi-territory multi-platform basis. This acquisition better positions eOne to generate significant value for shareholders.”
In addition to eOne’s output and distribution deals with with Summit, Lakeshore, Lava Bear, Morgan Creek, among others; the merger brings in output deals with Lionsgate in Canada, Summit and Lionsgate in Spain and Relativity in Canada and the UK.
“We’re delighted to welcome Alliance’s talented team to the eOne family. eOne is made up of the gifted teams brought together through the effective integration of Les Films Seville, Contender, RCV, Oasis International, Barna Alper, Blueprint, Hopscotch, among others, and we have no doubt that our strong entrepreneurial organization will be further strengthened with the addition of our new colleagues,” said Théroux.
He added: “We’re pleased to extend our robust international distribution infrastructure into Spain. Our enlarged platform and increased presence on the ground will create meaningful opportunities for innovation and growth throughout all territories and across our divisions.”