The Minister for Culture, Heritage and the Gaeltacht, Josepha Madigan has today welcomed the acquisition of Ardmore Studios Limited by Olcott Entertainment Limited.

Admore Studios was established in 1958 and is the only studio in Ireland to offer seven international standard sound stages with full support facilities on site. The founders of Olcott Entertainment currently operate Troy Studios in Limerick. 

Under the deal, Olcott has acquired the full share capital of Ardmore Studios International Ltd (which owned 68% of the share capital of Ardmore Studios Limited) and the acquisition of a separate shareholding in Ardmore Studios Limited which was owned by Enterprise Ireland. The purchase price is not being disclosed. 

Ardmore Studios has been home to hundreds of international and national films and TV productions over the years including Braveheart; My left Foot; Excalibur and in more recent times The Tudors; Moone Boy and Penny Dreadful. Productions at Ardmore have received 14 Oscars and many BAFTA, Golden Globe and Emmy awards. Ardmore is currently home to a number of productions including US TV series Into the Badlands, RTE’s Dancing with the Stars and feature films The Rhythm Section and The Turning.

Olcott plans to retain Ardmore’s employees and Siún Ní Raghallaigh will remain as CEO of the company. 

Speaking today, Minister Madigan said, "Ireland is an attractive location for film production and Olcott plans to develop and expand the Ardmore Studios offering. These ambitious plans will ensure that Ardmore studios will continue to compete at the heart of the international film and TV production market."

Source: www.businessworld.ie