Hopscotch acquired by Entertainment One

Australian distributor Hopscotch Films has been acquired by distributor and sales agent Entertainment One, for $20m.

“The Australian market presents an exciting opportunity for eOne, both to build on its existing operations worldwide and to acquire and exploit film titles for a larger group of territories,” said Entertainment One’s president and CEO Darren Throop.

The deal allows eOne to expand its international film distribution infrastructure, adding to its operations in Canada, the UK, Benelux and the US. The acquisition will also enable eOne to have direct access into the Australian market for exploitation of the television titles produced by its own television business.

“This deal enables Hopscotch to flourish as part of a larger international group. It’s clear that eOne has successfully built a unique multi-territory film distribution operation,” added Hopscotch managing director Troy Lum.

According to Entertainment One, the deal is payable by the issue of 4,126,636 million common shares in Entertainment One and approximately $10m in cash. It will be completed in early May. The management team of Troy Lum, Frank Cox and Sandie Don is expected to remain in place.

Entertainment One reported that in the 2009/2010 financial year, Hopscotch generated unaudited revenue of $18.5m and EBITDA of $2.95m. The new oners expect the deal to enhance the Earnings per Share (EPS) in year one.


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