LONDON — Picturehouse Entertainment and Element Pictures Distribution have made a joint acquisition of all U.K./Irish rights to Yorgos Lanthimos’ “The Lobster,” which will have its world premiere in competition at the Cannes Film Festival.

The film, which stars Colin Farrell, Rachel Weisz and Lea Seydoux, is the English-language debut of Greek director Yorgos Lanthimos, who received critical acclaim for “Dogtooth.” The pic is set for release across the U.K. and Ireland this fall.

The film, which also stars John C. Reilly, Ben Whishaw and Olivia Colman, is a blackly funny love story set in a near future, where finding love is a matter of life or death.

“I’m delighted we have an opportunity to work on this innovative and truly original film. I’ve wanted to work with Yorgos since having my head thoroughly scrambled by ‘Dogtooth’ in Cannes six years ago. The fact this is the first film Picturehouse Entertainment have gone into Cannes competition with makes it that much more special. Believe the hype: It’s an extraordinary film,” said Clare Binns, director of programming and acquisitions for Picturehouse Entertainment.

The movie was acquired by Element Pictures Distribution and Picturehouse Entertainment at script stage and will be released as a joint venture between both companies. It is the first time the companies have worked together to distribute a film.

Shot at Parknasilla in Co. Kerry in spring 2014, it is written by Lanthimos and Efthimis Filippou and produced by Ed Guiney, Lee Magiday, Ceci Dempsey and Lanthimos. Executive producers are Andrew Lowe, Tessa Ross and Sam Lavender with Isabel Davis as the lead executive for the BFI Film Fund. The film was developed by Element, and Irish finance for the film came from the Irish Film Board with Rory Gilmartin as the lead executive for the IFB.