Finally Walt Disney Pictures has made an official announcement regarding its plans to produce a sequel to the Academy Award-winning, huge hit animated film, 'Frozen', revolving around the lives of sisters Elza (Idina Menzel) and Anna (Kristen Bell). The sequel, dubbed as 'Frozen 2,' will be produced by Jennifer Lee and Chris Buch, who also produced the original film.

According to IB Times, John Lasseter, chief creative officer of Walt Disney and Pixar Animation Studios, made the highly-anticipated announcement at the annual shareholder's meeting in San Francisco. Josh Gad, who lends his voice for Olaf in the original movie, was present at the occasion.

Addressing the shareholders, Gad said, "We enjoyed making 'Frozen Fever' so much and being back in that world with those characters," adding, "Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that."

Later, Gad took to the official Twitter handle of 'Frozen' to confirmed the sequel.

Meanwhile, Bell too confirmed her plans to reprise her role as Anna, she tweeted, "Dreams really do come 2!!! #FROZEN2 #itsofficial"

This news is certainly exciting for all fans of 'Frozen,' but it did not come as a surprise considering the fact that the animated film broke innumerable records, on home video as well as in Disney's stores. According to Variety, 'Frozen' has grossed nearly $1.3 billion in theaters and still keeps on generating impressive revenue for Disney and Pixar with several merchandising tie-ins.

While, Disney has confirmed 'Frozen 2,' it has not provided much detail regarding highly anticipated sequel, or its cast. The official 'Frozen' Facebook page says Disney is keeping the release date as well as other production information "on ice."