Funko Acquires High-End Collectible Company Mondo
By Staff Reports
Funko, Inc. (“Funko,” or the “Company”) (Nasdaq: FNKO), a leading pop culture lifestyle brand, today 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 founded in 2001 by Rob Jones and Tim League and was a subsidiary of Alamo Drafthouse Cinema prior to the acquisition by Funko.
“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,” said Chief Executive Officer Andrew Perlmutter. “It’s an exciting opportunity to couple Mondo’s already stellar product assortment and aesthetic with Funko’s massive property library.”
Based in Austin, Texas, Mondo is best 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.
Financial terms of the deal were not disclosed, and the Company does not expect the acquisition to have a material impact on its financial performance in 2022.