- Funko, Inc. (Nasdaq: FNKO) announced it is buying Mondo. These are the details.
Funko, Inc. (Nasdaq: FNKO) – a leading pop culture lifestyle brand – announced it has acquired Mondo, a high-end pop culture company that creates vinyl records, posters, soundtracks, toys, apparel, books, games and other collectibles.
Mondo was launched in 2001 by Rob Jones and Tim League and it was a subsidiary of Alamo Drafthouse Cinema prior to the acquisition by Funko.
Based in Austin, Texas, Mondo is known for its limited-edition vinyl records and screen-printed posters, which focus on bringing art back to music and cinema through collaborations with acclaimed artists. Funko continues to invest in its strategic growth initiatives of maximizing the core business, diversifying the revenue base, growing its Direct-to-Consumer (DTC) channel, and extending its reach into international markets.
The financial terms of the deal were not disclosed and Funko does not expect the acquisition to have a material impact on its financial performance in 2022.
KEY QUOTE:
“Mondo’s devoted fan base and high-end pop culture collectibles make it the perfect complement to Funko’s current portfolio of brands. By leveraging our international distribution and licensing network, we feel well-positioned to expedite the growth of the Mondo brand. It’s an exciting opportunity to couple Mondo’s already stellar product assortment and aesthetic with Funko’s massive property library.”
— Chief Executive Officer Andrew Perlmutter
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
