In a trading update published on Pinewood’s website this morning, the company that is home to the James Bond and Star Wars franchise declared, “The Board has now determined that it is appropriate to evaluate alternative opportunities to maximise value for the Company’s shareholders and to build on Pinewood’s successes to date. We believe there is a requirement for a funding strategy to be in place to fully realise the Company’s future potential (for instance to fund PSDF phases two and three). Accordingly, Rothschild has been appointed to assist with a strategic review of the overall capital base and structure, which could include a sale of the Company.”
Pinewood chief exec Ivan Dunleavy added, “We believe Pinewood has the potential to build on the strong performance of the last few years to grow further both in the UK and internationally. The Board is now looking to identify the best ways to create the appropriate capital structure to allow the Company to realise its goals in the best interests of shareholders.”
In addition to Pinewood Studios, Shepperton Studios and Pinewood Studio Wales in the UK, the group also has operations in Toronto, Malaysia, the Dominican Republic and Atlanta in the U.S.
The news comes as Pinewood has enjoyed strong revenues for its production facilities, thanks to the likes of Star Wars: The Force Awakens and Spectre. The company has, however, long sought to leverage its bricks and mortar infrastructure to get more control of IP and upside in the actual content produced in its facilities. Pinewood’s stock market value is currently around $362 million (250 million pounds).