The Japanese entertainment giant Toho has reached an agreement to acquire the Oscar-winning animation outfit GKIDS, the companies said Tuesday.
The deal gives Toho an established North American distributor and sales operation in GKIDS, which has become a force in animation since its founding in 2008. As producer and distributor of artist-driven animation, GKIDS has brought acclaimed films like “Song of the Sea,” “The Breadwinner” and “Wolfwalkers” to North American audiences and operated as the domestic stewards of the Studio Ghibli catalog.
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After 13 best animated feature Oscar nominations, GKIDS won the award earlier this year for Hayao Miyazaki and Studio Ghibli’s “The Boy and the Heron.”
Toho, meanwhile, is home to internationally recognized brands, from Godzilla to popular anime franchises like “My Hero Academia” and “Jujutsu Kaisen.” The company is hoping to grow and expand outside of Japan and had already worked with GKIDS for years, on releases like “Weathering With You” and “Spirited Away: Live on Stage.”
Toho president and CEO Hiro Matsuoka said in a statement that GKIDS’ unique position in the U.S. market, “dovetails perfectly with Toho’s own strengths and strategic mission. This partnership accelerates Toho’s goals to prioritize animation, develop international markets, and support IP creation, while bringing exceptional Japanese and animated content to global audiences.”
GKIDS founder Eric Beckman will remain CEO, and Dave Jesteadt will stay president. Both said that the company will continue to operate as they have, “but now with the backing of a highly complementary and legendary parent company.”
The financial terms were not disclosed.