ITV acquires Twofour Group
June 24, 2015
ITV is set to acquire Boom Supervisory Limited, the holding company of the Twofour Group, as the commercial broadcaster continues to strengthen its global content business. The acquisition supports ITV Studios’ growth internationally by increasing its exposure to factual entertainment formats and drama.
Twofour is a fast growing group of companies that produced over 1,200 hours of programming in 2014. The group’s production labels, based in the UK and US, include Twofour, Twofour America, Boomerang, Oxford Scientific Films, Indus, Boom Cymru and the scripted producer Delightful Industries. The group has produced hit shows including Educating Yorkshire, The Jump, Posh Pawn, The Hotel Inspector and Animal Odd Couples.
Twofour also owns 51 per cent of drama indie Mainstreet Pictures, and has a distribution business, Twofour Rights, which owns a diverse catalogue of over 550 hours of finished programming and formats.
ITV, which acquires Twofour from majority shareholder LDC, the private equity arm of Lloyds Banking Group, will pay an initial cash consideration of £55 million for 75 per cent of the Group.
Melanie Leach, Chief Executive of Twofour said: “The management teams across the Twofour Group are delighted to be joining ITV Studios. ITVS has a great track record in backing creative talent and we look forward to working with them as we continue to grow the group in the UK and internationally.”