Pinewood Group Of The UK Acquires Pinewood Toronto Studios

Pinewood Grupo of UK’s Pinewood and Shepperton Studios said today it has assumed full ownership of the Toronto production facility which also bears the Pinewood name. It has been providing sales and marketing services to state-of-the-art, purpose-built film and TV studios since 2009.

Financial terms were not disclosed.

comes as news Pinewood Toronto completes its most recent expansion by adding 170,000 square feet of production space including five soundstages. It is now the largest film and TV studio in Ontario, with 490,000 square feet of production space and 16 purpose-built soundstages.

Pinewood Group Chairman Paul Golding said the new parents “have worked with our partners for many years to create the city’s pre-eminent studio, and we are now delighted to have purchased it. Will continue to invest in K’s Port Lands to ensure Pinewood Toronto Studios remains the number one destination for both domestic and international productions. We partner with the city to support Toronto’s thriving film and TV industry and all those who work in it intend to work together.

“Toronto has seen tremendous growth in film and television production,” said Toronto Film Commissioner Marguerite Piggott. “The acquisition by Pinewood Group is an exciting demonstration of Toronto’s global appeal and a strong indicator of continued strong growth in the future. We are thrilled to welcome them.”

Vic Gupta, CEO of CreateTO, a new agency set up by the city to develop its real estate assets, said Pinewood has agreed to form a city building fund with an (undisclosed) significant investment, “which will enable further development.” Will support the region in the Port Lands, an important center for the media production industry.

Port Land is an industrial and recreational area on the harbor adjacent to downtown Toronto.

Paul Bronfman, Pinewood Toronto’s founding shareholder and president since 2009, said in a statement: “I am thrilled that Paul Golding and his team at Pinewood Group are acquiring our studios. As President of Pinewood Toronto Studios since 2009, , I am excited and looking forward to this new opportunity for the City of Toronto.