Home / Business and Economy / Canal+ Buys 51% of Italy's Lucky Red
Canal+ Buys 51% of Italy's Lucky Red
24 Feb
Summary
- Canal+ Group acquired a 51% majority stake in Lucky Red.
- The deal values the 51% stake at approximately $31 million.
- Lucky Red reported over €50 million in revenues in 2024.
French broadcaster Canal+ Group has significantly expanded its European reach by acquiring a 51% majority stake in the established Italian film production and distribution company, Lucky Red. This strategic move aims to foster greater synergies across the continent.
The acquisition, reportedly valued at around $31 million for the majority stake, is not expected to alter Lucky Red's management or creative direction. Founded in 1987 by Andrea Occhipinti and Kermit Smith, the Rome-based company has a rich history of distributing works by acclaimed international filmmakers.
In 2024, Lucky Red achieved revenues exceeding €50 million, with its distribution arm generating nearly €24 million in 2025, positioning it as a key player among Italian distributors. This acquisition follows a trend of French groups consolidating their presence in the Italian media sector.
