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Toonz to buy Spain’s Imira

Lucky FredIndian firm Toonz Entertainment is acquiring Spain’s Imira Entertainment.

Financial details of the deal were not released, but toonz will take 100% of the producer and distributor, which is behind numerous kids TV shows such as Lucky Fred and Sandra the Fairytale Detective.

Imira will continue to operate as a separate entity to Toonz, and will now handle distribution of the latter’s content. Toonz will also invest cash and act as a coproducer on Imira projects.

P. Jayakumar, CEO of Toonz Animation said: “Adding Imira Entertainment to the Toonz Group brings significant complementary services and areas of expertise to our offering.”

Sergi Reitg, CEO of Imira Entertainment added: “Toonz Animation has a world-class pedigree in television and film. It is an exciting home for Imira Entertainment and a natural fit, and we are looking forward to working with our new colleagues to maximise the potential of our partnership.”

The deal is subject to regulatory clearances.