{"id":1331,"date":"2026-06-04T12:36:45","date_gmt":"2026-06-04T12:36:45","guid":{"rendered":"https:\/\/relocationobserver.com\/?p=1331"},"modified":"2026-06-04T12:36:45","modified_gmt":"2026-06-04T12:36:45","slug":"vfx-house-dneg-spains-sett-supercharge-canary-islands-anima-kitchent-with-a-multi-million-investment","status":"publish","type":"post","link":"https:\/\/relocationobserver.com\/?p=1331","title":{"rendered":"VFX House DNEG, Spain\u2019s SETT Supercharge Canary Islands\u2019 Anima Kitchent With a Multi-Million Investment"},"content":{"rendered":"
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\n\tSupercharging Canary Island animation studio Anima Kitchen, VFX giant DNEG has acquired the Canary Islands\u2019 Anima Kitchent.<\/p>\n

Read more Bob Odenkirk Is Sadly Pulling Out of Freedom 250. But David Cross Will Be Taking His Place.<\/a><\/p>\n

\n\tThe operation is backed by the support of the state-owned Spanish Society for Technological Transformation (SETT), a sovereign venture capital fund which has invested \u20ac24.9 million ($28.8 million) in Anima Kitchent. The joint investment, which sees both entities becoming Anima Kitchent shareholders, will be channelled via DNEG\u2019s ReDefine Originals, an animation studio and creative incubator.<\/p>\n

\n\tEstablished in the Canary Islands\u2019 Las Palmas de Gran Canaria in 2017 and run by CEO Angel Molinero with Ariana Villalobos as operations manager, Anima Kitchent has grown from just a staff of a dozen workers to a current 170, thanks to banner shows such as pre-school \u201cCleo & Cuqu\u00edn,\u201d \u201cLea & Pop\u201d and \u201cCuqu\u00edn\u201d for Warner. Bros. Discovery. The company is also renown for leveraging YouTube, where it has over 67 million subscribers, in order to launch and consolidate IPs.<\/p>\n

\n\tThe objective of DNEG and SETT investment is to take Anima Kitchent to the next level, creating 275 new jobs, \u201cdeveloping and producing original features of great quality, creating long-term value through their IP,\u201d Spain\u2019s Ministry for Digital Transformation and Public Function has announced.<\/p>\n

\n\tThe SETT investment forms part of the second-phase Plan Spain Audiovisual Hub, with a \u20ac1.7 billion ($2.0 billion) budget, which forms part of the European Union\u2019s Recuperation, Transformation and Resilience Plan.<\/p>\n

\n\tThe new Anima Kitchent will continue to benefit from Canary Island tax credits of 54%-45% on film-TV expenditure, capped at \u20ac36 million ($41.8 million) per feature film and \u20ac18 million ($20.9 million) per TV episode for both animation and VFX.\u00a0<\/p>\n

\n\tAs an outlying part of the European Union., the Canary Islands also offers a Special Zone (ZEC) corporate income tax of 4% and 7% VAT, compared to 25% and 21% in mainland Spain.<\/p>\n

\n\t\u201cThe Canary Islands have bounties of climate, gastronomy and landscapes, its tourism and trade are fundamental but we need to diversify its economy and here Spain\u2019s government bets clearly on the audiovisual sector, especially in the Canary Islands,\u201d said Angel V\u00edctor Torres P\u00e9rez, Spain\u2019s Minister for Territorial Policy.\u00a0<\/p>\n

Read more Marjane Satrapi, French-Iranian Director of Oscar-Nominated \u2018Persepolis,\u2019 Dies at 56<\/a><\/p>\n

\n\t\u201cThe real edge is the combination: strong IP and production values paired with data analysis that tracks audience trends in real time. Producing quickly and at high quality is precisely what makes that IPs travel into new markets,\u201d Pablo Hern\u00e1ndez, ZEC executive president, said of Anima Kitchent.<\/p>\n

\n\tAnima Kitchent\u2019s new deal also mark a milestone step in the muscular growth of the Canary Islands\u2019 animation industry which has expanded from one production house in 2018 to over 30 studios.<\/p>\n

\n\tThese include the Canary Islands\u2019 office of Fortiche, behind \u201cArcane\u201d; Atlantis Animation, a partner on \u201cLeo and the Giants\u201d for Sony-Disney; Tomavision, which supplied animation on \u201cSpace Jam: A New Legacy\u201d for Warner Bros. and on \u201cMerry Little Batman\u201d (Warner Bros.\/Amazon Prime); 3 Doubles Producciones, a prolific feature film production house, and Tinglado Films, a producer on Oscar pre-selected \u201cBlack Butterflies.\u201d<\/p>\n

\n\tFinland\u2019s Gigglebug, producer of \u201c101 Dalmatian Street\u201d shorts, has set up an office in the Canary Islands. Now Surfing Giant, behind Disney\u2019s \u201cHey A.J.!\u201d \u2013 from Jeff \u201cSwampy\u201d Marsh (\u201cPhineas and Ferb\u201d), Michael Hodges and Alcon Entertainment COO Scott Parish \u2013 is now opening a studio in the Canary Islands.<\/p>\n

\n\t\u201cCombined with earlier moves \u2013 Studio 100 Media\u2019s and Viva Pictures\u2019 stakes in 3Doubles among them \u2013 the Anima Investment signals that the Canary Islands have become a credible, resilient alternative for global animation: in effect, a safe harbor from the disruption hitting other markets,\u201d said Hern\u00e1ndez. \u201cLocal talent, stable regulation and competitive tax incentives are what let companies here adapt to changing conditions more quickly.\u201d<\/p>\n

\n\tDeveloped with SETT, the DNEG deal was closed directly with Anima Kitchent. It followed on more than four years with ZEC and partners including Proexca\u2013Gobierno de Canarias and the island Cabildos.\u00a0\u201cOur long-term groundwork meant that when the opportunity arose, DNEG already had a deep understanding of what the islands could deliver,\u201d said Hern\u00e1ndez.\u00a0<\/p>\n

Read more Thierry Fremaux Talks Cannes 2026, Hollywood \u2018Restructuring,\u2019 \u2018Club Kid\u2019 Thriving, Netflix\u2019s Possible Comeback and the Bollor\u00e9 Controversy<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

With DNEG and SETT new shareholders, the objective is to grow Anima Kitchent into one of the largest studios in Europe with 500-1,000 employees.<\/p>\n","protected":false},"author":1,"featured_media":1330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[1271,1272,1273,1274],"class_list":["post-1331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tv","tag-anima-kitchent","tag-dneg","tag-sett","tag-zec"],"yoast_head":"\nVFX House DNEG, Spain\u2019s SETT Supercharge Canary Islands\u2019 Anima Kitchent With a Multi-Million Investment - Relocation Observer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/relocationobserver.com\/?p=1331\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VFX House DNEG, Spain\u2019s SETT Supercharge Canary Islands\u2019 Anima Kitchent With a Multi-Million Investment - 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