ITV (LON:ITV) has boosted its programme production portfolio with the acquisition for up to £280mln of the company behind The Hotel Inspector.
The group, which makes Coronation Street, said it had bought Boom Supervisory, the holding company of the Twofour Group, from Lloyds Banking Group's private equity arm, LDC.
Twofour produced over 1,200 hours of programming in 2014.
The group's production labels, based in the UK and US, include Twofour, Twofour America, Boomerang, Oxford Scientific Films, Indus, Boom Cymru and scripted producer Delightful Industries.
As well as The Hotel Inspector, it has produced hit shows including Educating Yorkshire, The Jump, Posh Pawn and Animal Odd Couples.
Twofour also owns 51% of independent drama producer Mainstreet Pictures, and has a distribution business, Twofour Rights,
ITV will initially pay £55mln for 75% of the group and has a put and call option for the remaining 25% that can be exercised at the end of 2017 and between the end of 2019 and 2021. Twofour also has a put and call option to acquire the remaining 49% of Mainstreet.
ITV Studios' managing director Kevin Lygo said: "Great creative talent, fantastic content and brilliant production expertise are central to ITV Studios' strategy, so I'm delighted the Twofour Group is joining our family of production companies as we continue to boost ITV Studios' growth in the UK and internationally."
The move represents the latest in a 15-strong string of acquisitions by ITV Studios as it builds up its programme production capability. Other deals have included entertainment show producer Talpa Media, US group Leftfield Entertainment Group and the US producer of Teen Wolf, DiGa Vision.