Funko, Inc. and Goliath have announced a significant partnership. Under this agreement, Goliath will become the exclusive worldwide distributor for Funko’s collection of games and puzzles, which are marketed under the Funko Games brand.
Additionally, the deal includes Goliath’s acquisition of assets from Funko’s board game development studio, formerly known as Forrest-Pruzan Creative, as well as the Prospero Hall board game design team. The specific financial terms of this multi-year agreement have not been disclosed, but it involves an initial payment from Goliath, followed by future royalty payments for the use of the Funko brand.
The agreement also entails the transfer of Funko’s current inventory of board games and puzzles, along with the rights to intellectual property related to the studio, to Goliath.
Jochanan Golad, CEO of Goliath, commented on the deal, noting the long history of both companies in the gaming industry and expressing a positive outlook on the potential of this partnership. He mentioned plans to market several key games globally, including a new game named Bitty Pop!® Chase, which features Funko’s Bitty Pop!® miniature collectibles.
Mike Lunsford, Interim CEO of Funko, stated that the transaction aligns with Funko’s objective to concentrate on its core assets and reduce debt. He also noted Goliath’s substantial presence in the global games and toys market as a beneficial factor for Funko’s board game category.
As part of their future plans, Goliath is set to present many of Funko’s board games at the upcoming 2024 toy fairs in London and Nuremberg, indicating the commencement of this new phase of collaboration in the board game industry. This partnership is expected to leverage the strengths of both companies in the distribution and development of board games and puzzles on a global scale.