Funko strikes global deal with Goliath for Funko Games

Funko and Goliath have entered into an exclusive worldwide license and distribution agreement for Funko’s portfolio of games – marketed under the Funko Games brand.

As part of the deal, Goliath has acquired the assets of Funko’s board game development studio – formerly known as Forrest-Pruzan Creative – and board game design team, Prospero Hall. Financial terms were not disclosed.

Under the multi-year agreement, Goliath will be the exclusive worldwide distributor of Funko’s current catalogue of games and puzzles. Goliath has also agreed to collaborate with Funko to develop and distribute new games and puzzles.

Additionally, Goliath will acquire Funko’s current inventory of board games and puzzles, as well as rights to intellectual property related to the studio.

The agreement includes an initial payment from Goliath, followed by future minimum guaranteed royalty payments for the use of the Funko brand.

“Funko Games is a highly regarded brand that includes hundreds of board games recently created as well as a great portfolio from Forrest-Pruzan,” said Goliath’s Chief Executive Officer, Jochanan Golad.

“With Pressman’s 101 years and Goliath’s 43 years of selling games, we believe we’re a perfect fit to partner with Funko to develop and distribute games on a global level. We plan to commence marketing several key games around the world immediately.

“We’re especially thrilled about our plan to bring to market a new and exciting game called Bitty Pop!® Chase, which includes Funko’s popular Bitty Pop!®miniature collectible characters.”

Funko Interim Chief Executive Officer, Mike Lunsford, added: “The transaction is designed to keep with our previously stated goal of streamlining our business by focusing on our core assets. We intend to use the proceeds from this transaction to reduce our debt.

“We believe that Goliath’s size and scale, as well as their intimate knowledge of the global games and toys market, make them a strong partner for Funko in the board game category.”

Goliath plans to showcase many of the Funko board games at the upcoming 2024 toy fairs in London and Nuremberg.

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