BRB Secures Finance Deal With Iberian Bank
Spanish animation company BRB Internacional announced at MIP TV a new major financing deal, which will help them expand their operations. Banco Espírito Santo de Investimento (BESI), an Iberian bank, has acquired 25% of BRB International. BESI is a major player in Portugal and Brazil, and part of the NYSE listed Espirito Santo Group (NYSE:ESF). The move enables BRB Internacional to consolidate and increase its position in the international audio-visual market. On the production level, increased capital will see BRB boosting its production of English-language animated TV series, as well as moving into full-length animated feature films for theatrical release. A new company has been set up at BRB, called Screen 21, to develop the theatrical production and distribution business. BRB is also going to grow its licensing department. The company is currently handling the licensing rights for POKEMON in the Iberian Peninsula, and has its hands full with over 60 licensees and more than 1,100 POKEMON products in place. In addition to exploiting the licensing potential of POKEMON and BRB's own shows, such as MORT & PHIL, NICO and TEO, the company is also seeking to handle other third-party licensing contracts. BRB Internacional is also going to use this infusion of capital to diversify into live-action production. Claudio Biern Boyd, President of BRB Internacional, stated, "We are delighted to sign this deal with Banco Espírito Santo de Investimento, which enables BRB to expand, develop and diversify to meet the challenges of the new digital era. Infused with new resources, our strategy now is to build on BRB's success, as a quality producer and distributor of children's animation, and to expand into new areas such as feature films and live-action." BRB Internacional was founded in 1972 and is a leading Spanish production, distribution and licensing company with over 700 episodes of animated TV series for children and TV movies.