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January 23rd, 2017 41 comments

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Funko Announces Acquisition of Underground Toys Ltd

Transaction to Create Platform for International Growth

Funko, one of the leading creators and innovators of licensed pop culture products, announced today that it has completed an agreement to acquire substantially all of the assets of Underground Toys Limited (UTL), a leading creator, manufacturer and distributor of licensed products.

Financial terms of the transaction were not disclosed.

Founded in 2001 and based in London, UTL is a provider of award winning toys and entertainment products under licensed brands that include Star Wars, Doctor Who, Marvel, WWE and DC Comics. In January 2014, Funko and UTL entered into a European distribution agreement whereby UTL exclusively distributed Funko products along with its own range of licensed merchandise to a network of European retailers, including Toys “R” Us, Tesco, ASDA, Carrefour, and FNAC.

“Over the last two years our relationship with Underground Toys Limited has resulted in an extensive increase in the distribution of our products throughout Europe,” said Brian Mariotti, CEO of Funko. “This transaction will expand upon our already successful relationship and fully unite Funko with the Underground Toys Limited team to support and advance our international growth strategy. We are excited to apply our unparalleled creative design and speed-to-market capabilities to drive continued growth in the business and position ourselves to capitalize on the tremendous opportunities ahead.”

Funko’s operation of the EMEA business will be led by Andy Oddie, who will assume the position of Managing Director–EMEA. “We have been Funko’s European distributor for some time now and are excited to join the world’s leader in pop culture licensing,” Oddie said. “Funko and Underground Toys Limited are a natural fit given our shared commitment to high-quality, stylized pop culture products and we see great opportunities to create compelling cross-category pop culture offerings by leveraging our combined skills and experience.”

About Funko

Headquartered in Everett, WA, Funko is one of the leading creators and innovators of licensed pop culture products to a diverse range of connected consumers. Funko designs, sources and distributes high-velocity collectible products across multiple categories including vinyl figures, action toys, plush, apparel, housewares and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. In 2015, Funko received a majority investment from ACON Investments, L.L.C, a diversified international private equity firm.

As a leader in the large and growing $15 billion global licensed pop culture products market, Funko currently holds one of the largest portfolios of licenses and the rights to create tens of thousands of characters. Funko’s Pop! Vinyl is one of the most popular stylized vinyl collectibles on the market, selling millions of figures to collectors around the world. Learn more at https://funko.com/, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko).


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41 comments

  • Vlatko

    September 25th, 2019 - 7:55pm

    Hello,
    We are toys wholesale in Croatia, can you lease send me
    broschure of prices list for export? Thanks

    Waiting for your kind response

    Reply
  • GLG

    January 24th, 2017 - 2:19pm

    I can see this helping with exclusive products to US stores like Hot Topic, Wal Mart, Walgreens etc. Hopefully we’ll get more of those accessible in the UK and EU because this did already help to an extent before this acquisition

    Reply
  • Shallacatop

    January 24th, 2017 - 10:15am

    I can’t see this having a major impact.

    It’s something new for Funko, with it being a slow paced collector’s line with a dedicated fanbase. It’s the complete opposite of their flash approach where they acquire licences, create a wave and then move on. I can see them wanting to tread into that territory and perhaps fork out a little more money than UT. They have the benefits of being a good, big name too, in which retailers want to do business with them.

    I mean it isn’t as if the Doctor Who range is a particular inconvenience. I think all fans want is a few figures a year; the current Doctor, current companion and a couple of big hitting monsters from the latest series. If they can add a couple of other figures and make a wave out of that, then brilliant.

    Reply
  • prototype dalek

    January 24th, 2017 - 9:41am

    I don’t mind, as long things don’t get even more confusing then they already are when it comes to finding out information about new doctor who products.

    Will UTUSA still stay as they are all do they all come under UT ltd?

    Reply
  • The Outcast

    January 24th, 2017 - 6:06am

    I don’t think this will have any effect on the 5.5 Doctor Who action figure line (well, other then the fact they may need to find a new distributor). Character options make the figures, Underground Toys only sends them to America (and some other countries), so this shouldn’t have any effect in theory.

    Reply
  • MickeySmith07

    January 23rd, 2017 - 10:17pm

    I’ve noticed that recently all the exclusive American subscription boxed pops are on FPI so I’m assuming it’s a way to get American exclusives over here properly. I wonder if we’ll see the Dalek Sec (and the rest of the figures from that wave) that’s been exclusive to the US any time soon.

    Reply
    • Anonymous

      January 23rd, 2017 - 10:40pm

      Do you have a link to any of the boxes on forbiden planet please

  • BobsUrUncle

    January 23rd, 2017 - 9:24pm

    Can someone explain what this means? i dont understand

    Reply
    • booboo

      January 23rd, 2017 - 9:33pm

      basically Funko have bought Underground Toys LTD and all of its assets in the UK

      It looks like Underground Toys will Continue with its USA operation hence the new Twitter and Facebook accounts

      at this stage its not clear how this will effect Doctor Who if it effects it at all

    • Dalek4ever

      January 24th, 2017 - 3:47pm

      Booboo does this mean no more good figures

  • The Dalek Whovian

    January 23rd, 2017 - 7:15pm

    So does this mean more new 5inch figures?

    Reply
    • booboo

      January 23rd, 2017 - 7:17pm

      we just don’t know at this stage what it will mean, gut feeling is things will carry on a before after a while

    • The Dalek Whovian

      January 23rd, 2017 - 9:30pm

      Ok I think this will be good, because they will have more staff

  • KEVIN BUNKER

    January 23rd, 2017 - 6:00pm

    So Underground Toys isn’t part of Character Options then? I thought they were basically the same company. lol

    Reply
    • booboo

      January 23rd, 2017 - 6:05pm

      no definitely not

      CO have the Doctor Who licence to make the figures, UT had some input as they distributed them in the USA

      The question is will UT USA carry on as before once the dust has settled, they probably cancelled the order for now so some reorganization could take place

      It should be stated quite clearly Funko have only bought UT LTD, The UK Division

  • LastOfTheSonics

    January 23rd, 2017 - 5:29pm

    Is this is just UT or is it CO as well? Is the UK alright?

    Reply
    • booboo

      January 23rd, 2017 - 5:37pm

      CO doesn’t come into it UK is fine although its impossible to tell what impact this may have on the USA market and figures long term

    • booboo

      January 23rd, 2017 - 5:51pm

      They have bought (funko) UT LTD which is a UK company, perhaps UT have set up a separate USA division to carry on as UT that would explain the new twitter account

  • Anonymous

    January 23rd, 2017 - 5:27pm

    Wait. Will there ever be any more 5.5 figures or does this mean this is it?

    Reply
    • booboo

      January 23rd, 2017 - 5:29pm

      It may make no difference in the long term we just don’t know

    • Anonymous

      January 23rd, 2017 - 5:30pm

      Oh okay.

  • Cheesypie

    January 23rd, 2017 - 5:25pm

    Oh.. NOOOOOOOO!!!!!!!!!! 🙁 🙁 🙁

    Reply
  • Jay Glover

    January 23rd, 2017 - 5:14pm

    Is this now the end of the 5.5 inch line

    Reply
  • TimelordSupreme35

    January 23rd, 2017 - 5:10pm

    So, do you think Funko will re-relaunch the figure line?
    Going by their Game of Thrones 6′ figs, idk if its good that theyre in control

    Reply
    • booboo

      January 23rd, 2017 - 5:15pm

      If they did they would probably make them 6″ scale and i have no desire to start right over again

      Character are doing as much as the market will stand right now i think

  • itzPrew

    January 23rd, 2017 - 4:56pm

    I’m not sure what to make of this…is it a good thing or bad??

    Reply
    • booboo

      January 23rd, 2017 - 5:11pm

      I think only time will tell

  • Jamie

    January 23rd, 2017 - 4:38pm

    Sadly I doubt UT will commission any more 5 inch figures then. Funko will not want competition for the pop vinyl stuff….

    Reply
  • Jordan Scott

    January 23rd, 2017 - 4:09pm

    Funko is also announcing loads of new Pops tonight apparently, so perhaps there will be some new Doctor Who ones?

    Reply
    • TheWarDoctor

      January 23rd, 2017 - 4:22pm

      according to who they’re announcing new ones?

    • Jordan Scott

      January 23rd, 2017 - 4:25pm

      According to Funko’s official Twitter account

    • Anonymous

      January 23rd, 2017 - 5:16pm

      Wits true, they’ve just announced the Nickelodeon 90’s figures

    • booboo

      January 23rd, 2017 - 5:24pm

      lots tomorrow as well apparently

  • Omega63

    January 23rd, 2017 - 4:09pm

    Didn’t Funko say the Doctor Who line wasn’t doing so great? Wouldn’t surprise me if they cancel the UT 5.5″ line now.

    Reply
    • Luke Kelly

      January 23rd, 2017 - 4:32pm

      I remember that wave 2 of doctor who pops sold really badly apparently…

      new pops?? I like the sound of that!!

    • booboo

      January 23rd, 2017 - 5:06pm

      they have said we will get a Clara pop so wave 3 must have done OK

  • Jordan Scott

    January 23rd, 2017 - 4:01pm

    So is this the reason for the figures being ToysRus exclusives and figures being cancelled etc.?

    Reply
  • Anonymous

    January 23rd, 2017 - 3:33pm

    So what does this actually mean? What will happen?

    Reply
    • booboo

      January 23rd, 2017 - 3:38pm

      good question, i hope it will carry on as before when the dust settles but it does explain all of the stock clearances last year and the cancelled orders for the time being

  • Peter

    January 23rd, 2017 - 3:31pm

    Oh. Yay. I think.

    Reply
  • booboo

    January 23rd, 2017 - 3:26pm

    well this explains some of the recent happenings

    Reply

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