#German Mini-Major Leonine Launches Animation Division with Toon2Tango Acquisition

German mini-major Leonine Studios has taken full control of German animation group Toon2Tango and is using the Munich-based outfit as the basis of a new division, Leonine Animation Studios.

Leonine, which acquired a 25.1 percent stake in Toon2Tango in October 2022, will hold 50 percent of the new division, with Toon2Tango principles Hans Ulrich Stoef and Jo Daris jointly controlling the remaining 50 percent. Leonine’s holding company has an option to acquire a controlling majority in Leonine Animation Studios from 2025.

Toon2Tango was founded four years ago by Stoef and Daris, two experienced European animation veterans whose credits include the international hit series Mia and Me. The company’s line-up includes such animated series as Monster Loving Maniacs, and Agent 203 and Maya the Bee: The Honey Games, a feature spin-off of the popular animated kids franchise.

Leonine chief distribution officer Bernhard zu Castell will jointly run Leonine Animation Studios together with Stoef and Daris.

In addition to in-house productions — upcoming projects include the holiday feature Santa.Com, set for theatrical release in 2025, a TV spin-off of hit flying reindeer movie franchise Niko, and sci-fi series Littlest Robot, which was presented at the Cartoon Forum last September — Leonine Animation Studios is also looking to expand via mergers and acquisitions and through selective acquisition of “new IP with an international scope.”

“The expansion of our partnership with Ulli Stoef and Jo Daris is an important strategic step for our positioning in the animation sector,” said Bernhard zu Castell. “Since our investment in Toon2Tango in October 2022, we have completed hit series such as Agent 203 and Monster Loving Maniacs, among others, which have sold extremely well worldwide. The development, production and acquisition of major IPs is the perfect fit for our leading position in marketing and distribution, enabling us to create holistic brand worlds ranging from cinema and home entertainment to radio plays and podcasts.”

Backed by private equity group KKR, Leonine has become Germany’s leading independent media company largely through M&A activity, gobbling up many of the country’s top production and distribution outfits including Tele München Group, Universum Film, i&u TV and Wiedemann & Berg Film.

Leonine is itself the subject of takeover rumors, with news reports suggesting French media group Mediawan may be eyeing the Munich-based group as an acquisition target. Mediawan, known as the producer of the French TV hit Call My Agent! last year acquired Brad Pitt’s Plan B production outfit, whose credits include Oscar-winners Moonlight and The Big Short. Leonine and Mediawan set up a TV production joint venture in 2020. KKR is a shareholder in both companies.