WildBrain has announced it’s reached an agreement to acquire Toronto animation pre-production studio, House of Cool, expanding the company’s pre-production capabilities for animated series, specials and features.
Under the agreement, WildBrain will acquire full ownership of House of Cool with executives and co-founders Wes Lui and Ricardo Curtis joining WildBrain Studios’ senior management team in the newly-created roles of Co-General Managers of House of Cool, reporting to WildBrain President Josh Scherba.
Collaborating closely with WildBrain’s animation studio in Vancouver, House of Cool will maintain operations in Toronto as well as its distinct brand under the WildBrain banner. The acquisition will more than double WildBrain’s pre-production capacity, building on its existing team of approximately 80 staff, based in Vancouver.
“This acquisition is an investment in creative excellence,” said Scherba, in a company announcement. “House of Cool is recognized as one of the very best pre-production companies in the global animation industry. We’re delighted to welcome Wes, Ricardo and their team on board at WildBrain, a combination of talent that will immediately broaden and deepen our collective creative strengths. Their expertise is highly complementary to our existing business, expanding and enhancing our pre-production capabilities, not only for WildBrain’s proprietary content but also for third-party projects. The acquisition also establishes a new entry point for IP owners to engage with WildBrain’s 360-degree offering across production, distribution and consumer products licensing.”
“As a fiercely independent operator for the last two decades, it would require something special for House of Cool to join another studio. WildBrain is that special,” added Curtis. “WildBrain has industry-leading expertise in production, distribution and licensing, and its reach on multiple platforms greatly expands our ability and scope to connect with audiences. Mixed with their deep catalogue of properties—many I grew up with—hitching House of Cool’s wagon to WildBrain allows us to collaborate in previously unavailable ways on the premium content we are known for.”
Founded in 2004, House of Cool has worked on over 20 theatrical films, including Despicable Me, The Angry Birds franchise, The Peanuts Movie, Ice Age, Rio, and series like What if…? for Marvel Studios; Gravity Falls for Disney; and Maya and the Three, The Magician’s Elephant, Trollhunters, and Dragons: Race to the Edge for Dreamworks and Netflix.
The acquisition is valued at $15.5 million, including $10.25 million in WildBrain shares and $5.25 million in cash. Additionally, there is an earn-out of up to $6 million based on collection of tax credits earned up to closing. The transaction is expected to close in Q4 2023, subject to conditions.
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