As has been expected for days, All3Media has confirmed the news it has acquired Sam Mendes’ Neal Street Productions. No financial terms were revealed, but Mendes and his partners — former BBC Drama commissioner Pippa Harris and theater veteran Caro Newling — had put the company up for sale in November with a $60 million price tag.
It makes for All3Media’s first major acquisition since it was bought by Discovery Communications and Liberty Global last May, and its biggest acquisition since bought production companies Optomen and One Potato Two Potato for $60M in 2010.
Though launched as a film, theater and TV company, Neal Street has enjoyed its most profitable returns thanks to its lucrative TV series, including Penny Dreadful for Showtime and Sky Atlantic and Call The Midwife. The company also launched musicals such as Charlie And The Chocolate Factory.
CEO Jane Turton and Director of Corporate Development Steven Brown led the acquisition negotiations on behalf of All3Media.
“Neal Street is a fabulous company and it’s wonderful to welcome them to the All3Media Group,” Turton said. ” They have an incredibly strong slate of market leading TV, film and theatre shows and I look forward to working with Pippa, Sam, Nick and Caro and the Neal Street team as they grow their business, in the UK, the U.S. and overseas.”
Added Neal Street: “All of us at Neal Street are thrilled to be joining forces with Jane Turton and her team at All3Media, a company we have long admired and whose philosophy and style feels totally in tune with our own. There has never been a more exciting time to be making high quality, popular drama, so to find a partner who understands our work across film, theatre and television, and who can help guide and support our growth is exactly what we had hoped for.”
Neal Street will join Company Pictures and Bentley in the All3Media stable, as well as the newly launched drama division of Studio Lambert.