Madrid and Bilbao-based company behind Amazon’s Cicatriz, Disney+, Netflix and TVE series
ITV Studios has taken a majority stake in Plano a Plano, the Spanish scripted production company behind Netflix hit Valeria.
The company, which was founded in 2011, is run by owner/producer César Benítez and is a major scripted player, with shows including El Principe for Mediaset - sold to more than 60 international markets - and daily telenovela Servir Y Proteger for TVE.
Benítez, who previously founded BocaBoca Producciones (now part of iZen), will run the company following ITVS’s acquisition alongside chief exec Emilio Amaré and executive producer Álvaro Benítez.
Financial details were not revealed but the prodco’s team will continue to be based out of Madrid and Bilbao, reporting to ITVS’s managing director, international production, Lisa Perrin.
Plano a Plano’s current slate includes heist series, Suspicious Minds, which recently premiered on Disney+, while the prodco is also in production on two Netflix shows.
One is the adaptation of All the Truth Behind My Lies (Toda la Verdad de Mis Mentiras), a new miniseries based on the novel by Elísabet Benavent, while a remake of psychological thriller Innato is being produced in association with Dynamic Television.
The production firm is also filming Ella, Maldita Alma for Mediaset, and its first feature film, the gripping historical drama, La Tregua, with participation from RTVE and Netflix.
Perrin said: “After admiring César, Emilio and Álvaro’s work for many years, I am so delighted that they have accepted our offer to join ITV Studios. They bring such incredible skill, creativity and relationships.
“The Spanish language scripted market, built on a heritage of cinematic skill, continues to grow from strength to strength. It’s burgeoning with opportunity including high demand from viewers and clients in Spain and globally.”
Benítez, Amaré and Benítez added: “This partnership reflects a shared vision for growth and creative excellence. It offers resource and experience for the many opportunities ahead to tell more stories on a broader canvas. We are excited for what the future holds with ITV Studios.”
Plano a Plano will sit alongside ITV Studios Iberia in Spain, the unscripted entertainment venture launched by ITVS in 2023. The company owns scripted label Cattleya Producciones, both led by managing director Nathalie Garcia.
Hasham Khan at ABP Advisory advised the shareholders of Plano a Plano on the transaction. Broadcast understands the indie received numerous offers with high multiples from buyers when it was brought to market, but decided on ITVS because of the partnership offered by the super-indie.
The M&A specialist recently helped advise on Mediawan’s acquisition of The Kollective indie Submarine and the investment by Avalon into It’s All Made Up Productions.
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