The news comes the same day the revisionist fairy tale starring Jeremy Renner and Gemma Arterton crossed $200 million at the global box office. That’s a significant milestone and key to the decision to go ahead with a sequel that is now officially in development; Hansel & Gretel: Witch Hunters made its bones overseas. While the pic opened at $19.6 million here January 25, and topped out at $54 million domestically on what Paramount said was a $50 million budget. But they loved it overseas, where the film has done over $150 million. That provides a strong hedge for these high concept action films.

Paramount, MGM and MTV Films were behind the first pic, from Gary Sanchez Productions, whose principals Will Ferrell, Adam McKay and Kevin Messick are expected to return as producers for the second go-round as is Beau Flynn. Tommy Wirkola wrote and directed the first movie, which after this weekend has grossed $205.8M worldwide.

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