Funko may be best known for its vinyl Pop! figures, but the Washington-based maker of pop-culture toys, games, collectibles, and lifestyle products is about to enter a different vinyl category. Today, Funko announced its acquisition of Mondo, the merchandise arm of the Alamo Drafthouse movie theater chain that is known for offering limited-edition pressings of movie scores and soundtracks on vinyl records.
Mondo has been an arm of Alamo Drafthouse for more than two decades, starting in a (literal) closet at the original Alamo Drafthouse movie theater and since expanding to offer a wide variety of vinyl, screen-printed posters, collectibles, games, and other merchandise designed for movie lovers — often designed in collaboration with artists.
Alamo Drafthouse and Funko did not disclose the deal’s financial terms, but the Texas-based Mondo team will stay together as they begin to operate under a new parent company. According to a press release from Funko, the company does not expect the acquisition to have a material impact on its financial performance this year.
According to a statement from Alamo Drafthouse Founder and Executive Chairman Tim League, who also co-founded Mondo, the company had been searching for a partner that could elevate and grow the Mondo brand while Alamo focuses on growing its theater chain. “Funko is exactly that unicorn,” League says.
The Mondo team also released a statement following the news of the acquisition. It reads, in part:
“We have always loved following our passions and doing things our own way, and we’ll be forever thankful to the Alamo Drafthouse for supporting those passions and helping us grow into what we are today. But we needed a bigger boat… and that’s where Funko comes in. They understand what Mondo is today and are eager to help us become the company we want to be.
From the outside, Mondo might seem like it is changing… but on the inside much is staying the same. We remain the same team, and our goals remain unchanged. We are still the same bunch of weirdos who share an undying obsession with popular (and maybe less popular) culture, and a craving to make cool stuff with the best artists in the world.”
This acquisition is the latest for Funko, which previously acquired accessories brand Loungefly in 2017 and board game design studio Forrest-Pruzan Creative in 2019 (which became Funko Games). Bringing Mondo into its fold will take Funko into a variety of new merchandise categories, including music, puzzles, and posters.
Funko is also currently exhibiting at the ASTRA Marketplace & Academy in Long Beach, California, which runs until this Thursday, June 16.
