Guillermo del Toro will produce CG-animated movie Day of the Dead.

The Pan's Labyrinth director joins Aaron Berger and Carina Schulze of Chatrone Inc. in the Reel FX venture, described as a tragic Romeo & Juliet-style love story that takes place during Mexican holiday Day of the Dead.

The script was penned by animated TV show writer Doug Langdale and co-creator of Nickelodeon's El Tigre: The Adventures of Manny Rivera, Jorge R. Gutierrez. Gutierrez is also set to direct the feature.

The film, due for release in late 2014, marks Guadalajara Jalisco native Del Toro's first involvement in a Mexican feature since Cronos in 1993. In recent years, his signature style - mixing fables with horror, history and fantasy - has made him one of the most in demand directors in Hollywood.

Having stepped down from his role in producing the film adaptation of The Hobbit, Del Toro is currently working on sci-fi blockbuster Pacific Rim for Legendary Pictures. The apocalyptic action film, due for release in May next year, stars The Wire's Idris Elba in his first lead role.