Squirrel Media acquires Grupo Ganga

He Ganga Group, a conglomerate of companies specialized in the development of fiction programs and series, has become controlled by Squirrel Media after the company decided to take over 51% of the shares of the different companies that make up the group.

The group, beyond being known for Tell me how it happened, has carried out highly recognized works such as The last one, recently released series and first original fiction of Disney+ for Spain; Incredible Duos, great bet for musical training RTVE which has achieved an average of 1,027,000 viewers and a 10.2% share; Hit, a fiction series, for TVE, of which the third season is already being filmed, as well as other formats including A country to eat o Let's cook with José Andrés. On the other hand, Ganga has reached an agreement with the actress Ana Obregon to make a series about the life of the actress and presenter, and is already working on several projects, of which there are already five that are quite advanced and of which more information will soon be given, among which are the production of a feature film.

The company informs that the agreement for the acquisition of the 51% of the shares of the different companies that make up the group and which is scheduled to be completed next February. The group is bought free of any type of debt and contingencyLikewise, all the acquisitions described will be financed entirely with Squirrel Media's own funds. From a financial point of view, in summary, it should be noted that the acquired companies have a Closing forecast this year 2022 of around 27 million euros in turnover and a EBITDA of about 1.7 million.

This operation also includes all real estate assets which currently owns Ganga Group, among which stands out its own production center in Pinto (Madrid) of more than 8,000 m2 distributed between locations abroad, sets, editing booths, post-production, etc. In addition to what was previously described, Squirrel Media, adding this new acquisition to the existing catalog, “consolidates one of the most relevant catalogs of titles and rights globally.”

Pablo Pereiro, president of Squirrel Media, values the acquisition of Grupo Ganga in the following way: "This acquisition is part of Squirrel Media's expansion strategy to consolidate itself as a leader in the generation and global distribution of content in the Spanish, Portuguese and Italian language. In addition to the great direct and intrinsic value that the acquisition of Grupo Ganga brings to Squirrel Media for its assets, this operation, as part of the growth strategy meticulously defined by the company in recent years, additionally generates multiple synergies, causing a notable increase in the value of all our assets and, especially, of the previous acquisitions made by our group in recent years.”