Funko, Goliath Announce Exclusive Deal for Funko Games

Goliath to be exclusive worldwide distributor of Funko’s game catalog.

License Global

January 19, 2024

2 Min Read
Funko logo
Funko logoFunko

Funko, a pop-culture lifestyle brand, and Goliath, a private family-owned and -run global game company, have announced the two 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 also acquired the assets of Funko’s board game development studio, formerly known as Forrest-Pruzan Creative, and celebrated board game design team, Prospero Hall. Financial terms were not disclosed. Under the multiyear agreement, Goliath will be the exclusive worldwide distributor of Funko’s current catalog of games and puzzles and has agreed to collaborate with Funko to develop and distribute new games and puzzles. The agreement includes an initial payment from Goliath, followed by future minimum guaranteed royalty payments for the use of the Funko brand. In addition, Goliath will acquire Funko’s current inventory of board games and puzzles, as well as rights to intellectual property related to the studio.

“Funko Games is a highly regarded brand that includes hundreds of board games recently created as well as a great portfolio from Forrest-Pruzan,” says Jochanan Golad, chief executive officer, Goliath. “We look forward to bringing the Funko brand and style to the game aisle in new and innovative ways. 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.”

“The transaction is designed to keep with our previously stated goal of streamlining our business by focusing on our core assets,” says Mike Lunsford, Interim Chief Executive Officer, Funko. “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.

Read more about:

FunkoGlobal

About the Author

License Global

License Global

License Global is the leading news source for the brand licensing industry, delivering award-winning editorial content including news, trends, analysis, and special reports about the global consumer product and retail marketplace.

Through its print edition, website, daily e-newsletter and event publications, License Global reaches more than 150,000 executives and professionals in all major markets. The magazine also serves as the official publication for the sector’s trade events, which include Licensing Expo, Brand Licensing Europe, France Licensing Day, Licensing for Retail, Licensing Expo Japan, Licensing Expo Shanghai and the Licensing Leadership Summit.

Subscribe for daily updates directly into your inbox.

 

 

 

Subscribe and receive the latest news from the industry Article
Join 62,000+ members. Yes, it's completely free.

You May Also Like