Rainbow buys Canadian studio

Italy-based animation firm Rainbow has acquired Canada’s Studio Bardel for an undisclosed amount.

Bardel works with major US networks such as Nickelodeon and Cartoon Network, and now joins Rainbow in a deal described as highlighting the Italian firm’s “strategic focus on quality content, technological innovation and ability to build a strong presence on a worldwide level”.

Bardel employs around 650 artists. It joins a company that is best known for girls-skewed Winx Club and that is also producing the upcoming Regal Academy.

“New productions, new forms of entertainment and new media all mean you can’t stand still in this industry,” said Iginio Straffi, president and CEO of Rainbow Group. “At Rainbow we know this, which is why we are dedicated to innovation, creativity and a commitment to international growth.

“As a major player in the global entertainment market, we want to hold this position and the credibility built through more than 20 years in the sector, but also to grow further. This is why we have acquired Canadian company Bardel, a big production force with more than 30 years of history.

Straffi added the deal was “a very important step forward. We want to retain our identity as we grow but are also ready to embrace the positive energy of a company that like us, is a creative and dynamic force. Together we will face, and overcome, big new challenges”.

Rainbow has subsidiaries in Moscow, Hong Kong and Singapore, and also counts Viacom as a minority shareholder.