Abercross Holdings acquires leading UK based global Indian entertainment network
- Abercross Holdings, a mid-cap investor, is investing over £20m into leading Bollywood network B4U
- Abercross holds a stake in Typhoo Tea, and plans to expand further into the UK mid-cap market
- B4U is one of the largest TV networks in India and hosts some of the most popular Indian series and Bollywood films
Abercross Holdings, an investment firm led by former England cricketer Alex Loudon and Issam Hamid, former Chief Investment Officer for the Saudi Royal Family, is delighted to announce the acquisition of a majority and controlling stake in B4U network – a leading Bollywood TV network jointly owned by steel magnate Lakshmi Mittal.
Abercross Holdings, which holds a stake in Typhoo Tea, is a leading mid-cap investor in the UK. The mid cap market, which amounts to over 30,000 businesses, is the engine of growth and employment in the UK – it is also constrained for capital following Brexit which creates an opportunity for investors that believe in the long-term potential of UK enterprises.
Abercross is investing over £20m in equity in B4U network, one of the world’s leading Indian TV networks with over 50 million daily viewers across over 100 countries in America, Europe, the Middle East, Africa and Asia.
B4U is head-quartered in London and has offices in Mumbai, Delhi, Dubai and New York with over 150 full time employees. It has won numerous industry awards over the years including Best Music Channel award for 3 consecutive years as awarded by The Asia Viewers Television Awards.
The Indian entertainment industry is in a uniquely advantageous position: it is one of the few markets where TV broadcasting is growing as well as digital media expanding. India has seen a surge in 3G and 4G services as India’s mobile phone users (over 750 million) continue to grow and consume more digital content on different platforms.
South Asian entertainment is particularly popular among the Indian, Pakistani & Bangladeshi diaspora, especially among these communities in the UK and the Middle East. The South Asian TV market in the UK is close to about 5m viewers. As well as Bollywood films, B4U also pioneered the overseas distribution for Pakistani cinema, which has featured in the Top 15 UK box collection on their opening weeks.
Amit Bhatia, Managing Partner at Swordfish Investments, on behalf of the largest shareholder in B4U said, “We are proud of the growth of B4U as a major content platform for Indian entertainment. Indian entertainment has many fans all over the world and B4U has played an important role in driving the awareness and enjoyment of this great art form.
“Abercross has a vision to further grow the brand and cement its leadership position in this space. We wish them every success for the future and will follow the company’s progress with great interest.”
Issam Hamid, Managing Partner at Abercross Holdings, commented on the acquisition stating, “B4U has developed into a fantastic brand with strong potential for growth and a proven management team. We are very pleased to welcome the company to our portfolio and are committed to growing the business and making it the foremost player in its space.”