Funko, a novelty toy maker out of Everett, Wash., is acquiring London-based Underground Toys Limited (UTL) for an undisclosed sum.
You might recognize Funko for some of its geekier products, like the monthly “Star Wars” collectibles box or nostalgic, stylized vinyl figures of popular characters. The company specializes in licensed pop culture products, like action figures and apparel.
UTL develops and manufactures merchandise from geeky brands like Star Wars, Marvel, DC Comics, and Doctor Who.
In 2014, the two organizations partnered so that UTL could distribute Funko’s products across Europe.
“Since 2014, we have had a great relationship with Underground Toys Limited, which has provided us with expanded distribution of our products throughout Europe and we are excited to further our geographic and channel diversification,” said Funko CEO Brian Mariotti. “We see tremendous opportunities to build on the success that Underground Toys UK has enjoyed in pop culture, including key product categories like housewares and accessories.”
In the Seattle area, Funko is moving into a new, expanded headquarters and growing its team.