Toronto-based Peace ArchEntertainment Group has acquired Canadian home entertainment outfit kaBOOM!Entertainment.
The deal gives Peace Arch a DVDplatform for its burgeoning feature slate, which is being handledinternationally by executive vice president of international sales andmarketing Penny Wolf.
Under a long-term employmentagreement, kaBOOM! president Berry Meyerowitz will continue to run the companyon a day-to-day basis as a Peace Arch division.
"The acquisition ofkaBOOM! is a significant step in our plan to make Peace Arch one of thepre-eminent production, sales and distribution companies in the internationalfilm and television business," Peace Arch chief executive officer GaryHowsam said.
"We believe thatkaBOOM!'s superb management, consistent profitability and outstanding retailrelationships in Canada combined with Peace Arch's proven ability to create andacquire desirable new film and television programming will improve eachcompany's margins and provide a valuable springboard to continuing accretiveacquisitions of strategic distribution and content assets."
"We are very excited tobe joining Peace Arch just as the company is expanding all areas of itsoperations," Meyerowitz added.
"This transaction takesour business to the next level of growth by providing a reliable source ofquality new film and television programming, an enhanced ability to acquire andexploit distribution rights in markets outside of Canada, and improved accessto other strategic opportunities in Canada, the United States and abroad."
Peace Arch is currently inproduction on the John Lennon assassination drama Chapter 27 starring Jared Leto and Lindsay Lohan, and Delirious, which stars Steve Buscemi, Michael Pitt and AlisonLohman. Also underway are five projects under the fledgling genre arm ArchetypeFilms.