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Vivendi Acquires Lucky Red Stake
24 Feb
Summary
- Vivendi's Canal+ Group secured a majority stake in Lucky Red.
- The deal reportedly values the 51% Lucky Red stake at $30 million.
- The partnership aims for European synergies and Lucky Red's expansion.
Vivendi's Canal+ Group has announced the acquisition of a majority stake in the Italian film distribution and production company, Lucky Red. This move signifies a significant consolidation within the European media industry.
The transaction reportedly values the 51% stake in Lucky Red at approximately $30 million. The partnership is characterized as a strategic alliance designed to leverage European synergies.
Lucky Red, founded in 1987, is a notable player in the Italian independent film scene, involved in both distribution and production. Its recent distribution slate includes titles such as "Greenland 2: Migration" and the Robbie Williams biopic "Better Man." The company has also produced notable works like Gabriele Mainetti's "Freaks Out" and Netflix's "On My Skin."
This acquisition integrates Lucky Red into a larger international group, a trend seen among Italian companies seeking broader market access and resources. Management and creative decision-making at Lucky Red are not expected to change following the acquisition.
