France’s Vivendi Acquires Italy’s Lucky Red in Latest European Consolidation Move

France’s Vivendi, the parent company of Canal+ Group, has acquired a majority stake in prominent Italian distribution and production company Lucky Red, in the latest consolidation move in Europe.

Lucky Red, which is a leading Italian indie film distributor and also active in film and TV production, was among the few Italian outfits that had not been snapped up by a bigger international group

The Rome-based company’s recent releases include “Sentimental Value,” “Nouvelle Vague,” “Greenland 2: Migration” and Robbie Williams biopic “Better Man.”  Their productions comprise Gabriele Mainetti’s “Freaks Out” and Netflix’s first Italian film “On My Skin.”

The deal, which reportedly values the 51% Lucky Red stake at roughly $30 million, is not expected to change management or creative decisions within the company founded in 1987 by Andrea Occhipinti and Kermit Smith. It is described in a statement as a “strategic partnership” geared towards European synergies.