Funko now wants to play in the board game space.
The maker of pop culture themed dolls said Friday it has acquired board game maker Forrest-Pruzan Creative. Terms of the deal were not disclosed. Forrest-Pruzan Creative is known for games such as Disney’s Villainous and Harry Potter: Hogwarts Battle.
Funko said the acquisition will not have a material impact to its financial results in 2019.
“This is another avenue for us to engage with pop culture enthusiasts. Similar to our previous acquisitions — Loungefly and An Evil Corporation (now Funko animation studios) — this is in line with expanding our product offerings,” Funko CEO Brian Mariotti tells Yahoo Finance.
The purchase marks Funko’s initial entry into the board game sector. And the move could prove lucrative.
Despite the interest in playing games on mobile devices, the board game market is seen growing 9% annually through 2023. The growth is expected to be fueled by millennials finally having kids and choosing more family style activities at home.
But Funko will face stiff competition carving out market share in the $12 billion-plus industry from board game king Hasbro.
Popular board games by Hasbro like Monopoly and Pie Face helped drive $787 million in sales for the company’s gaming division in 2018. Hasbro is expected to show off its latest board game innovations at this year’s Toy Fair in New York.
Brian Sozzi is an editor-at-large at Yahoo Finance. Follow him on Twitter @BrianSozzi
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