Indie circuit Alamo Drafthouse Cinema sold Mondo to Funko, the pop culture lifestyle brand.
Terms of the deal for the independent film circuit were not disclosed, but the deal goes to Funko, creator of pop culture collections such as vinyl records, posters, soundtracks, toys, pants shirts, books and games. Alamo Drafthouse subsidiary Mondo was founded in 2001 by Rob Jones and Tim League.
“Over the past few months, we have searched extensively to find the perfect partner who sees what is unique and special about Mondo and has the ability to make a meaningful investment in Mondo, nurture the team, as well as enhancing Mondo’s vision and vision,” League said in a statement, adding: “Funko is exactly that unicorn. The team that made Mondo great are together, making the transition to Funko and will continue their similar work with the same creative vision. ”
Alamo, which appeared from Chapter 11 in June, has continued to retool its business in hopes of more films from major studios as the pandemic eases, even as traditional theatrical runtimes continue. shortening system. As part of that restructuring, Alamo sold its Drafthouse Films label to digital distributor Giant Pictures.
“Mondo’s devoted fan base and high-profile pop culture collections make it the perfect addition to Funko’s existing brand portfolio. By leveraging our international distribution and licensing network, we feel well positioned to accelerate the growth of the Mondo brand,” Mondo CEO Andrew Perlmutter said in a statement. on Monday.
The deal with Mondo comes just a month after former Disney CEO Bob Iger joined a consortium led by Peter Chernin’s The Chernin Group to invest $263 million in Funko to fuel its expansion. .