Dutch board game manufacturer Goliath has acquired the marketing assets and brands of Funko Games studio Prospero Hall (formerly known as Forrest-Pruzan Creative) for an undisclosed amount. 

Funko bought the studio back in 2019, and has since used it to publish licensed games including Jurassic World: The Legacy of Isla Nublar, The Goonies: Never Say Die and Indiana Jones Sands of Adventure. 

As part of this new acquisition, Funko has signed a multi-year licensing deal that sets Goliath up as the worldwide distributor for all products under its Funko Games brand. This operational shift will be evident later this month, when Goliath showcases this year’s new range of Funko board games (including Bitty Pop! Chase) at the London and Nuremberg Toy Fairs. Goliath also purchased Funko’s unsold inventory of board games and puzzles, and has agreed to a collaboration for manufacturing and distributing new products in these play categories.

Today’s deal is part of Funko’s strategy to return to profitability. In Q3 2023, its net sales slid by 14.4% compared to the same period the year before. Not a single division of the company posted growth in the quarter, and toy sales dropped 17.4% to US$233.3 million. Funko is in the process of looking for a new CEO to replace co-founder Brian Mariotti, who left last year. And it plans to cut total SKU production by 30% in 2024. 

Funko has received an initial payment from Goliath for the assets and distribution rights covered in the deal. And it will also get royalty payments from Goliath for distributing the Funko Games titles. Funko plans to use this capital to reduce its corporate debt, according to interim CEO Mike Lunsford.