EXCLUSIVE: While Sylvester Stallone walked away from The Expendables, he is thriving with another franchise. Emmett/Furla/Oasis Films CEOs and co-founders Randall Emmett and George Furla just greenlit the third film in the Escape Plan franchise.

The first, which starred Stallone and Arnold Schwarzenegger, grossed $137 million WW in 2013, and the third film has been set just as Escape Plan 2 wraps this week. Stallone came back for the sequel and will return for the third installment. Miles Chapman wrote the first two films and is writing the third, with director Steven C. Miller back behind the camera. Emmett, Furla, Mark Canton and Zack Schiller all will return to produce. Ted Fox, Mark Stewart, Barry Brooker, Wayne Marc Godfrey and Stan Wertlieb will executive produce. Lionsgate Premiere will release domestically and Leomus Pictures will co-produce the film with EFO and will distribute in China.

EFO’s recent films include Martin Scorsese’s Silence, with the John Travolta starrer Gotti from director Kevin Connolly and the Olivia Wilde thriller A Vigilante in post. Stallone is repped by WME. Miller is with UTA and Aperture Entertainment’s Adam Goldworm.