France’s Newen buys Dutch prodco

French production giant Newen Group has bought a majority stake in Netherlands-based prodco Tuvalu Media.

Tanguy de Franclieu

Newen has purchased the controlling interest from Tuvalu’s historical shareholders – Taco Zimmerman, Duurt Holman and Douwe van der Werf – and Dutch private equity firm Karmijn Kapitaal.

Zimmerman and Van der Werf will retain a minority equity stake and will continue to manage the company.

The purchase is part of a growth strategy in place at Newen since it was bought by French commercial broadcaster TF1 in a controversial move in 2015. It is now aiming to grow its presence across the European production sector.

Tuvalu has been a prolific formats creator and producer in the Dutch market since it was launched by the former management team of Palazzina Productions in 2006. It produces local versions of The First Years, My New Home and BBC format Maestro among others.

The deal expands the Newen Network into the Netherlands for the first time, and adds Tuvalu to existing prodco partnerships in Germany, Spain and Canada.

Tanguy de Franclieu, MD of Newen Studios, said: “Acquiring a majority equity stake in Tuvalu will allow Newen to complete its geographical footprint, alongside Newen Network, in a very creative market.

“We are very happy to implement this strategic alliance with Tuvalu founders who share with us a common entrepreneurial DNA and a strong focus on original quality creation. That partnership will enable both Newen and Tuvalu to best serve their respective clients.”

Zimmerman, CEO of Tuvalu Media Group, added: “The new partnership will strengthen the position of Tuvalu, both in our domestic market as internationally.

“We expect with Newen to boost Tuvalu as an international, creative content hub – both on the format and on the scripted market. It will grow our international network, will offer us a direct outlet in France and give the ability to invest more in creating new IP.”

Tuvalu was previously bought by Sony Pictures Television in 2007 but a management buy-out in 2013 saw it return to the original shareholders, with co-founder Roel Kooi exiting.

Nielen Schuman, Ernst & Young and De Breij Evers Boon advised Tuvalu in the latest deal, while Deloitte and Hogan Lovells advised Newen.