Two family-run companies have united following a deal that further exemplifies a consolidating animation industry. Italy-based entertainment specialist Rainbow, Europe’s largest animation studio and home to the billion-dollar Winx Club franchise, has acquired Vancouver, Canada-based animation service provider Bardel Entertainment.
According to Iginio Straffi, president and CEO of Rainbow Group, the deal has the potential to exceed US$50 million – which DHX Media paid for animation studio Nerd Corps Entertainment last year – provided Bardel meets a series of predetermined goals over the next three years. While he couldn’t divulge the exact financial figures attached to the purchase, Straffi is candid about what attracted his company to the service studio.
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