Funko, the company most known for its Pop Vinyl figurines, has announced a new partnership with toy company Goliath, aimed at reducing its overall debts. The partnership includes the sale of its board game assets to Goliath, which will now handle exclusive licensing and distribution for Funko’s games portfolio, including titles from the studio formerly known as Forrest-Pruzan Creative and the design team of Prospero Hall.
“The transaction is designed to keep with our previously stated goal of streamlining our business by focusing on our core assets,” Mike Lunsford, Funko interim CEO said of the arrangement. “We intend to use the proceeds from this transaction to reduce our debt.”
As understood, it appears Goliath and Funko will continue to collaborate, with Goliath making an initial payment for Funko’s board game assets, then receiving royalties for the use of its brands. The first project of this collaboration will be Bitty Pop! Chase, a new board game using Funko’s Bitty Pop! figurines.
Read: The best board games for beginner players
“Funko Games is a highly regarded brand that includes hundreds of board games recently created as well as a great portfolio from Forrest-Pruzan. We look forward to bringing the Funko brand and style to the game aisle in new and innovative ways,” Jochanan Golad, Goliath’s Chief Executive Officer said.
“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.”
Notably, Goliath has now gained access to a vast library of Funko-owned IP, which includes popular board games like The Haunted Mansion: Call of the Spirits, and the Funkoverse Strategy Game. Prospero Hall is a particularly good get, as the company has been responsible for designing a massive range of games including Disney Villainous, Horrified, the Choose Your Own Adventure games, and Jurassic World: The Legacy of Isla Nublar.
Given Goliath will work with Funko to develop new board games in future, it’s likely the team at Prospero Hall will continue to be incredibly busy, even after this changeover. Stay tuned to hear more about new Funko board games in the works at Goliath.
