Just For Laughs sold to Mandel, U.S. partner

MONTREAL — Just For Laughs has been sold to an investor group led by Canadianborn comedian Howie Mandel and ICM Partners, an American talent agency.

Financial terms of the deal were not immediately available.

The new owners said the company will continue normal operations, with the same leadership in place. Mandel says he has always been a big fan of the annual Montreal comedy festival and performed many times over the last decade.

“I consider it to be a cultural treasure not only for the Montreal and Quebec communities, but also for Canada,” he said.

“I am very excited to be part of this group of investors that will ensure the festival’s long term success, while growing their global comedy brand.”

In addition to the comedy festival in Montreal started in 1983, Just For Laughs produces international comedy tours, TV specials and annual festivals around the world including in Toronto, Vancouver and Sydney, Australia. It has production and distribution businesses in more than 135 countries and its programming is seen on more than 100 airlines.

Chris Silbermann, managing director of ICM Partners, said the Montreal festival has been built into a global business.

“We see a great opportunity to work with them to grow the global comedy brand... while allowing the team on the ground in Montreal to continue to produce the festival as they have so successfully for all these years.”