National Lampoon has purchased its first feature film, acquiring Electric Apricot, a comedy about the jam band phenomenon that marks the feature directorial debut of Les Claypool, according to Variety.

The company plans to release the title theatrically this year as National Lampoon Presents Electric Apricot -- Quest for Festeroo. Claypool's a singer and bassist best known for his work with the band Primus.

National Lampoon's also planning a release this year for its first in-house feature production, National Lampoon's Bagboy, starring Brooke Shields, Dennis Farina and Larry Miller, as it moves into producing its own fully financed comedies.

The company's been involved in more than two dozen movies starting with 1978's Animal House, usually through licensing.