Studiocanal Acquires Majority Share in Lucky Red, the Italian Distributor of ‘Sentimental Value’ and ‘Yellow Letters’
Studiocanal, the pan-European production and distribution company owned by Vivendi, has acquired a 51% stake in renowned Italian indie distributor Lucky Red. This significant acquisition reflects Studiocanal’s strategy to strengthen its position in the European market.
According to Italian cinema trade outlet Cinematografo.it, CEO Andrea Occhipinti sold 40% of his 89% controlling interest in Lucky Red for €20.8 million ($24.56 million). The transaction also involved minority shareholders Valerio Scarinci, Head of Marketing and Communications, and Stefano Massenzi, Head of Acquisitions, liquidating their respective stakes of 10% and 1% for €5.2 million ($6.14 million) and €521,000 ($615,271).
Despite the changes in ownership, the management team will remain intact, with Occhipinti retaining a 49% stake in the company. This structure aims to ensure continuity while fostering strategic partnerships and enhancing European collaborations.
Occhipinti co-founded Lucky Red in 1987 alongside Kermit Smith, who played a pivotal role in shaping Italy’s indie cinema landscape during the 1980s.
Cinematografo.it reported that Lucky Red had a successful year in 2024, achieving a turnover of €50 million ($59 million) and a net profit of €3.7 million, buoyed by indie successes like Perfect Days, Past Lives, and The Boy and the Heron. However, the company faced a decline in 2025, with turnover dropping to €24 million ($28 million) and ranking eighth at the box office, trailing behind major distributors such as Disney and Warner Bros. In 2026, Lucky Red began the year on a positive note with the release of Oscar contender Sentimental Value, which has grossed $1.6 million so far, alongside upcoming titles like Nouvelle Vague.
Earlier this year, Lucky Red and Studiocanal announced an increasing partnership with their joint project Elsinore, directed by Simon Stone and featuring a cast that includes Andrew Scott, Olivia Colman, and Billie Piper, produced in collaboration with LD Entertainment and Magnolia Mae Films.
