PARIS– Marco Polo Production (MPP) has finalized the acquisition of Aventi Distribution, a French independent home entertainment distributor, for 2 million Euros ($2.7 million). MPP now owns 100% of the company.
MPP also recently injected $3 million into the acquisition of 15 feature films which will be distributed by Aventi this year.
Four of them – “The Best Offer,” “Charlie Countryman,” “Tokarev” and “Ratchet and Clank” — will be theatrically released. Meanwhile, other titles, including “Empire State”, “22 Minutes”, “Bounty Killer”, will be released in TV, VOD and DVD.
MPP forecasts that Aventi will generate an estimated $20 million in annual revenue in 2014 with a film library comprising 2100 titles.
Under the new ownership, Aventi has appointed Fabrice Dupuis, who previously worked as business controller of Virgin Stores, LVMH Group and Societe Generale, chief financial officer.
MPP has tapped Remy Jacquelin as consultant for TV sales and film acquisitions. Jacquelin was previously head of acquisition and sales at TF1 and VP of TF1 Films Prods. for over 12 years ago.
MPP is now planning to invest another $10 million this year to acquire mainstream content, as part of its mandate to have Aventi distribute 70 titles on all media platforms, including seven theatrical releases per year.
Aventi will also continue to distribute films from third-party suppliers, notably FIP, SND/M6, AD Vitam, among other companies.
The French shingle’s client portfolio includes more than 3000 retailers, France’s largest chains, and a direct access to all French VOD platforms. It’s also connected with French TV networks.
MPP’s shareholders include Eton and Edmond De Rothschild Investment Partners, along with Rionda Del Castro’s family.
NFinance is acting as special financing advisor for the group. KUB, the Paris-based law firm handled the recapitalization.