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Pinewood Studios, the legendary operator of movie studios in London as well as in metro Atlanta, said Thursday it has agreed to sell itself to an investment group.
Pinewood is the operator studios where well known films including the James Bond series and Star Wars have been produced. Pinewood operates a studio complex in Fayette County, south of Hartsfield-Jackson International Airport, which is owned by Chick-fil-A CEO Dan Cathy and other investors.
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He spoke at Pinewood earlier this year at an event to launch the on-site Georgia Film Academy.
Cathy and his partners will continue to own the facility.
Reuters valued the deal with a subsidary of PW Real Estate Fund at more than $420 million.
Pinewood Atlanta Studios is among the jewels of Georgia’s burgeoning film industry. Marvel productions, including Ant-Man, starring Paul Rudd, and Captain America: Civil War, have shot there in recent years.
It is unlikely the deal will slow down operations at the Fayette studios. The campus is currently undergoing an expansion.
Last week, Cathy and fellow investors announced a new mixed-use community on Pinewood Atlanta Studios' doorstep called Pinewood Forrest. The $700 million project is expected to include 1,300 residences, shops, restaurants, hotels and health care facilities.
The British studio operator said in February it was considering strategic options, including a possible sale.
“Pinewood has grown in recent years into a global operation which sits at the forefront of the U.K.’s creative industries,” Pinewood CEO Ivan Dunleavy said in a statement Thursday. “We believe we have found the right partner for the business and one that shares our long-term vision for the future of the Group.”
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