Lagardère Active has secured a majority stake of 82 per cent in Grupo Boomerang TV (Grupo BTV). The remaining 18 per cent will still be held by the founding partners who will continue in the day to day management of the Group.
Created in 1998, Grupo BTV is one of Spain’s leading independent audiovisual production groups and has launched expansions in several Latin American countries. The company had a turnover of €42.4 million in 2014.
“From the very beginning of our discussions, we recognized in Boomerang’s management the same passion we have for our jobs as producers of audiovisual content,” commented Takis Candilis, President of Lagardère Entertainment. “So it is with particular pleasure that we welcome them into the Lagardère Entertainment fold. With this acquisition, Lagardère Entertainment will become a leading presence in 2 European countries. What’s more, thanks to Boomerang, we’ll establish a presence in Latin America via their subsidiary in Chile and with a growing presence in Colombia, thus reinforcing our expansion strategy in fast-growing countries, as in Africa.”