Funko faces pressure from major investor to explore strategic sale
Pleasant Lake Partners disclosed a 10% stake in Funko and urged the board to explore a sale. The hedge fund seeks to boost value after years of revenue drops.
Insights:
Pleasant Lake Partners disclosed a roughly 10% stake in Funko, Inc. on February 20, 2026, and urged the company to immediately and thoroughly explore strategic alternatives, including a possible sale. The disclosure, which involved Fund 1, comes as the toymaker faces significant challenges after two consecutive years of revenue decline and a share price that fell nearly 75% last year.
