In the latest major M&A deal in Europe, Fremantle has acquired Asacha Media Group, the growing owner of Death in heaven Produced by Red Planet, Arrow Media and Stand By Me in Italy.
Asacha was only founded in 2020, but has since acquired eight brands and rapidly expanded its reach across Europe.
The deal sees Fremantle acquire the group of founding partners, managers and Asacha funds managed by Oaktree Capital Management for an undisclosed fee.
Following the acquisition, subject to customary closing conditions, Asacha will continue to be managed by co-founder and group CEO Gaspard de Chavagnac who will report to Fremantle Europe President Andrea Scrosati. Marina Williams will continue to have De Chavagnac’s support as Asacha’s chief content officer.
“Fremantle is proud to invest in and partner with the best global creative talent,” Scrosati said. Gaspard de Chavagnac, Marina Williams, Marc-Antoine d’Alouin and the amazing producers and talents who created Asacha certainly fit into this category, and we are thrilled that they have chosen to join the Fremantle family. They have built an impressive portfolio of market-leading brands, each of which perfectly complements our existing business in each of their markets.
De Chavagnac added: “Fremantle will use all its expertise and resources in developing and distributing premium content, to accelerate the growth of our amazing creative brands. I am very excited to continue this exciting journey.”
Headquartered in Paris, Asacha has been building a small production empire since 2020 and now owns Kabo Family, France’s Mintee and Srab Films, Italy’s Picomedia and Stand By Me, Triple Arrow Media, Red Planet and Wag in the UK.
Includes shows and movies Death in Paradise, Mar Omar, Don’t pick up the phone, The magic of Disney’s Animal Kingdom And General men Across vast slabs in both written and unwritten form.
Fremantle said its independent islands in the regions where Asacha operates, such as Talkback, 72 Films and Lux Vide, would not be affected.
Fremantle had a quiet year for M&A in 2023 compared to its huge 2022 splurge of $270 million, but this signals the company’s intent for next year as it continues to build towards a €3 billion ($3.2 billion) revenue target by 2025.
Earlier this month, it took a majority stake in Singapore’s Beach House Pictures, and recently invested in a new British company run by former Channel 4 entertainment chief Phil Harris. In 2022, it acquired the likes of Ordinary people outfit Element Pictures, doc producer 72 Films and veteran Italian company Lux Vide.
Asacha’s last purchase was Magic of Disney’s Animal Kingdom arrow maker and before that, Nominated for an Oscar Les Miserables The product is a mirage.
Advising Asacha Media Group and Oaktree was Lazard and Mayer Brown, and for Fremantle it was CMS.