Drafthouse Films has acquired rights to documentary “Electric Boogaloo: The Wild, Untold Story of Cannon Films” and plans a theatrical release for late 2012 to coincide with a traveling roadshow retrospective of Cannon’s seminal films

“Boogaloo,” from documentarian Mark Hartley (“Not Quite Hollywood”), centers on the two Israeli-born cousins, Menahem Golan and Yoram Globus, who launched an indie studio that would produce over 120 exploitation films from 1979-1989 . The film is currently in pre-production in Australia with Veronica Fury producing and XYZ Films exec producing.

Cannon produced “Missing in Action,” sequels to “Death Wish, “Runaway Train,” “Texas Chainsaw Massacre 2,” “The Apple,” “Breakin,” “Masters of the Universe,” “Lifeforce,” “Kickboxer,” “52 Pick-Up,” “Barfly” and Jean-Luc Godard’s “King Lear.””Cannon Films was an enterprise that in many ways defined exploitation cinema of the 1980s,” said Alamo Drafthouse CEO and Fantastic Fest Founder Tim League.

The deal was negotiated by Nate Bolotin, on behalf of Celluloid Nightmares and XYZ Films and League, James Emanuel Shapiro and Evan Husney on behalf of Drafthouse.

Alamo Drafthouse Cinema is a 13-screen chain in Texas and Virgina with plans to expand into Denver, Los Angeles and New York. Drafthouse Films recently acquired North American rights to Michael Roskam’s crime drama “Bullhead,” Belgium’s official candidate for the Oscar foreign-language film award; Mikkel Nogaard’s Danish comedy “Clown”; and “Comin at Ya! 3D.”