‘Winx Club’ Creator Rainbow Group Looks to Expand With Multimillion Cash Injection From Investors
variety.comNick Vivarelli International Correspondent Italy’s Rainbow Group, the company led by Iginio Straffi — creator of the hit “Winx Club” animation franchise — has announced a partnership with a group of Italian equity investors that are providing a roughly €90 million ($92 million) cash injection.
Under the deal, TEC Movie — which is part of a unit within top Italian merchant bank Mediobanca called the Equity Club — will hold a roughly 40% stake in Rainbow.
The deal “marks a strategic move for Rainbow to further consolidate its position as a leading Italian TV production and animation house with a view to future global growth,” according to a Rainbow statement.
Rainbow Group is now “looking to consolidate its international leadership and exploring strategic M&A transactions involving both major IP and companies in Italy and worldwide that share synergies with the group,” the statement added.
