The new deal will see the London based firm incorporate the Funko line of products

US manufacturer Funko signs exclusive EU partnership with Underground Toys

US toy developer and manufacturer Funko has struck an exclusive European partnership with UK firm Underground Toys.

The new deal will see the London based firm incorporate the Funko line of products within its range of licensed merchandise, including the likes of Star Wars, Hello Kitty, The Walking Dead and Disney.

Funko serves US retailers of varying sizes, including Hot Topic, Barnes and Noble, FYE and Walmart as well as having a presence in most international markets.

Underground, meanwhile, is a global entertainment merchandise company distributing its own licensed products to European retailers including Toys R US, Tesco, Asda, Carrefour and FNAC.

Brian Mariotti, CEO of Funko, said: "This partnership has been staring us in the face for some time and it is extremely exciting to conclude a formal relationship with Underground which will allow extensive distribution of our items throughout Europe."

Andt Oddie, founder and managing director of Underground Toys, added: "The Funko line of 1000 different licensed items is a perfect match for our existing profile of around 1600 products.

"I have the utmost repsect for what Brian has achieved in this unique toy area and we are ready to deliver in Europe for Funko.

"We are continuing to allocate fresh resource in order to do the job properly as we realise the potential for us and Funko is now huge."

The agreement will formally commence from January 1st, 2014.

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