mecha spiderman

Funko acquires action figure/poster vendor Mondo

After a solid first quarter, the collectibles giant adds Mondo and its Marvel and Rick & Morty licenses to a growing portfolio of in-house vendors.
June 13, 2022

Funko has acquired premium collectibles manufacturer/retailer Mondo from theater chain operator Alamo Drafthouse Cinema for an undisclosed amount.

Mondo launched in 2001 and is best known for making and selling limited-edition vinyl records, screen-printed posters and action figures. The Texas-based company currently has licensing agreements with Toho for Godzilla statues and vinyl, with Adult Swim for Rick and Morty figures, and with Marvel for mecha-themed action figures and tiki mugs.

A collectibles company itself, Funko continues to invest heavily in the space through acquisitions and product expansion. It bought Idaho-based NFT platform TokenWave in April 2021, shortly after launching Snapsies, its first original collectible toy range.

Funko saw its net sales decline in 2020 due to the pandemic, but the company is back on track and experiencing growth again. Its net income for Q1 2022 was up US$11.1 million from the same quarter a year ago to US$14.5 million.

In a release, Funko CEO Andrew Perlmutter said the company plans to leverage its existing licensing and distribution network to expand the Mondo brand. Both companies lean on popular IPs for their product ranges, with a focus on artistic interpretation.

Last month, a consortium of companies led by The Chernin Group and former Disney CEO Bob Iger invested US$263 million in Funko.

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