Village Roadshow Entertainment Group Asia has become an investor and partner in Hong Kong-based Irresistible Films L.P.
Terms of the deal, announced Tuesday at Cannes, were not disclosed. Greg Basser, CEO of Village Roadshow Entertainment Group, will join the board of five-year-old Irresistible to assist in the development of the company.
The investment in Irresistible represents a broadening of efforts by Australian parent company Village Roadshow Ltd. to tap into Asian markets. The Asian division has seen recent success in the Chinese market due to its local language productions of Stephen Chow’s “Journey to the West” and romance drama “Say Yes!”
Irresisible was created by Bill Kong of Edko Films, Hugh Simon of Hamon Investment Group and Avex Group of Japan. Its goals are to produce commercial films, support a new generation of professional filmmakers and supply content for the China market.
Irresistible Films has produced seven feature films, including the 2012 box releases “Nightfall” and “Cold War,” which won nine awards including best film at the recent Hong Kong Film Awards.
“We feel privileged and honored to join this ground-breaking partnership,” Basser said in a statement. “Thanks to the bold vision of Bill, Hugh and Avex, Irresistible is functioning not only as a successful film production company, but also as a catalyst for important changes in the way films are developed, produced and distributed in Asia.”
Kenji Kitatani, president of Avex International Holdings , noted that Avex Group is affiliated with Village Roadshow through its mutual association with Clarity Partners.
Irresistible also announced it has promoted Ivy Ho to managing director, noting she will continue to lead expansion efforts.
Village Roadshow Entertainment Group announced last June that it had raised $275 million in new financing, giving the company more cash to make movies and expand its presence in Asia.