Pan-European indie group Vuelta has expanded its footprint in the Italian market by acquiring a minority stake in Italian distribution company PiperFilm.
PiperFilm, which launched from Cannes last year as the distributor of Paolo Sorrentino’s “Parthenope,” operates with an innovative distribution model thanks to its deal with Netflix. The streaming giant has the first exclusive post-theatrical window for Italy on their titles, while Warner Bros. Entertainment Italia handles the operational distribution of their lineup of movies in Italian theaters.
They also act as global distributor of several Italian films produced by Eagle Pictures, such as recent smash hit “The Boy With Pink Pants.” PiperFilm also have a pact with Be Water, the Italian media company founded by financier and writer Guido Brera and headed by former Warner Bros. Italy country manager Barbara Salabè. Be Water owns a 12% PiperFilm stake.
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Vuelta, which is headed by former Canal+ and Goldman Sachs executive Jerome Levy and longtime partner David Atlan-Jackson, did not specify the entity of their PiperFilm stake. But, according to Italian press reports, it is believed to amount to 30% of the company, making Vuelta the second PiperFilm shareholder after Brera and his partners.
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In Italy, Vuelta already owns prominent production company Indiana Production, which is behind Netflix’s lavish period series “The Leopard.” Outside Italy, Vuelta owns France’s Pan, SquareOne/Telepool in Germany, WW Entertainment in Benelux and Scanbox Entertainment in Scandinavia, among other outfits.
“Following on from Be Water Film’s initial investment, this partnership with Vuelta constitutes a further fundamental step in the growth of PiperFilm,” said PiperFilm CEO Massimiliano Orfei. “Vuelta is one of the most innovative players on the European film distribution market and I am particularly happy and proud that Jerome Levy — to whom I extend my thanks — has seen the ambition of PiperFilm and its team and the potential for development, collaboration and value creation.”
Commented Levy: “We are thrilled to partner with Piper and its talented management team. Their reach with leading local producers makes it the right partner to fulfil Vuelta’s ambition to be a pan European distributor of local content.”
