EXCLUSIVE: Orion Pictures has acquired the horror pitch Svalta from Simon Pegg, Nick Frost and Miles Ketley’s Stolen Picture banner.

The story follows a family on their summer vacation to a remote Swedish island where they discover a serial killer is on the loose, but the locals have no interest in helping the stranded family of tourists. The title is taken from the name of the fictional island.

Pegg, Frost and Ketley will produce for Orion, with Frost writing the screenplay with Stolen Picture creative directors James Serafinowicz and Nat Saunders. Dan Kagan will oversee the project on behalf of the studio.

Orion Pictures President John Hegeman said the project already reflects the singular sensibilities of Pegg and Frost, creators of Shaun of the Dead, Hot Fuzz and The World’s End.

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“We are unbelievably excited to be partnering with Simon, Nick and Miles on Svalta,” Hegeman said. “The story is scary, awesome and crazy, and their unique voice is perfect for this movie. We can’t wait to bring this to the big screen with them.”

This year marks the 20th anniversary of the Pegg and Frost partnership, which began in 1999 when the pair met on the set of the UK sitcom Spaced. The tandem launched Stolen Picture in May 2017 and four months later found their CEO by poaching Ketley from the indie production company Bad Wolf.

“Orion is the perfect home for the horrifying vision that Nick has conjured up from his maverick brain,” said Ketley, a former Fox Searchlight executive. “We always said that everything we do has to come from left field and find something unexpected at its center and with this partnership with John and Dan and their amazing team — Svalta is the perfect project to do that.”

Stolen Picture’s upcoming production slate also includes Ben Aaronovitch’s adaptation of Rivers of London and Truth Seekers, a comedy horror series about paranormal conspiracy.