Just for Laughs Sold to Howie Mandel-led Investor Group

Just for Laughs Sold to Howie Mandel-led Investor Group
Revered Montreal comedy company and festival Just for Laughs has been sold to an investor group led by Howie Mandel and American talent agency ICM Partners.

The new owners said the company will continue normal operations with the same leadership in place, the Canadian Press reports. Financial terms of the acquisition were not immediately available.

In a news release, Mandel said that he considers Just for Laughs "to be a cultural treasure not only for the Montreal and Quebec communities, but also for Canada," adding that he is "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."

Mandel and ICM Partners have also said they are in talks with Quebec investors to join the ownership group. Just for Laughs' 2018 festival will run from July 14 to 28 in Montreal.

Last fall, the company was subject to controversy after multiple women came forward with allegations of sexual assault and sexual harassment against founder Gilbert Rozon.

Rozon, who resigned from the company in October following the allegations, said he would sell his majority shares in Just for Laughs in response. Rozon has denied the allegations, which have not been proven in court.