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DISTRIBUTION France

Facelift for Bac Majestic

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- Belgian entrepreneur is Bac Majestic's new majority shareholder

One of the most important independent distributors in France has been taken over by Belgian investor, Michel Litwak, a neophyte in the audio visual field. The news of the acquisition was no surprise. For a long time, Bac Majestic had been looking for a partner to pull them out of the financial doldrums. The agreement signed by Jean Labadie, the President and Founder of Bac Majestic, will allow the renegotiation of short- and medium- term debts and includes the creation of an investment association with Bac Majestic suppliers. The majority holdings are in the hands of Bac Majestic, with Michel Litwak holding 75% and Jean Labadie holding 25%. An additional 30 million euros have already been projected as an increase in capitol, if the General Assembly signs the agreement on July 15. In this way, Bac Majestic can concentrate on its principal activity, which is film distribution, even though its co-production projects remain just as important.

(The article continues below - Commercial information)

(Translated from French)

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