Fremantle has completed the acquisition of Asacha Media Group, the private-equity-backed operation that owns eight TV and film production companies across France, Italy and the United Kingdom.
Asacha’s subsidiaries include Death in Paradise producers Red Planet Pictures; Italian scripted groups Picomedia (Beyond the Sea, La Storia) and Stand by Me (Diaries); and France’s Srab Films (Saint Omer, Happening) and Mintee Studios (Cimetiere Indien). On the non-scripted and factual side, Asacha controls France’s Kabo Family (Scènes de Ménages) and Wag (Don’t Pick Up the Phone) and Arrow Media (See no Evil) in the U.K..
The deal sees Fremantle acquire the Asacha from the founding partners, managers and funds managed by Oaktree Capital Management.
Headquartered in Paris, Asacha will continue to be run by co-founder and group CEO Gaspard de Chavagnac who will report to Andrea Scrosati, Fremantle’s Group COO and CEO Continental Europe, who spearheaded the acquisition. Also staying on are Marina Williams, as Asacha CCO.
The deal is the latest in Fremantle’s global buying spree, which has seen the super indie, owned by European broadcasting group RTL, gobble up some of the most prestigious independent production companies worldwide, including Ireland’s Element Pictures, producers of Oscar-winning feature Poor Things, Italian group Lux Vide (Devils), and U.K.-based Dancing Ledge Productions (The Responder), among many others.
Last month, Fremantle also took a majority stake in Singapore-based Beach House Pictures, producers of Netflix’s Mind Your Manners and Mr. Midnight. Together, Fremantle has valued the Asacha and Beach House Deals at $217 million.
Lazard, Mayer Brown, Duroc partners and Arsene advised on the deal for Asacha Media Group and Oaktree, with CMS advising fro Fremantle.