PARIS -- French indie distributor BAC Films Distribution has been acquired by film financier and producer David Grumbach and a consortium of European investors.
Grumbach, who works under the Luxembourg-based Juliette Films and Paris-based Jaya Productions banners, recently produced Ari Folman's Cannes entry The Congress.
VIDEO: Live From Cannes: The Cast and Crew of 'The Congress'
Under the new structure, Grumbach will become CEO. Luxembourg-based financier Eric Chinchon will board as CFO and current managing director Mathieu Robinet will continue to oversee all acquisition, distribution, international sales and productions.
The sales team, headed by Gilles Sousa, will remain in place. They'll be taking a slate that includes Paolo Virzi's Human Capital and Helene Cattet and Bruno Forzani's The Strange Color of Your Body's Tears to AFM in November.
Founded in 1986, BAC Films Distribution had been a subsidiary of the publicly traded BAC Majestic, with Paris-based animation house Millimages the majority shareholder since 2003. With the announcement of today's deal, BAC Majestic entirely cedes BAC Films Distribution and its back catalog to the new owners.
Since its founding in 1986, the company has distributed 8 Cannes Palme d'Or winners, including Cristian Mungiu's 4 Months, 3 Weeks and 2 Days and the Coen Brothers' Barton Fink.
Grumbach acquired the company with hopes to make the indie distributor into "a full-service European mini-major" that can house a film from beginning to end through development, financing, production and distribution.
In a statement, Grumbach said he is enthusiastic about combining BAC's team expertise with his experience in international production and financing and intends to maintain the same proactive, cooperative approach that has worked for him as a producer as BAC Films increases the scope of its activities.
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