ACON Investments Sells $263 Million Stake in Funko, a Leading Pop Culture Lifestyle Brand, to a Consortium Led by The Chernin Group

Winston & Strawn advised Acon Investments in the sale of the majority of its stake in Funko, Inc. (Nasdaq: FNKO), a leading pop culture lifestyle brand, to a consortium led by The Chernin Group ("TCG") for $263 million in an all secondary transaction.  ACON Investments has been an investor in Funko since acquiring Funko, LLC in 2015.
 
TCG and its investor consortium are acquiring from ACON Investments 12,520,559 shares of Funko Class A common stock, or 80% of ACON Investments' stake in Funko, at $21.00 per share and will own 25% of the Company following completion of the transaction. Additional investors in the consortium include eBay Inc. (Nasdaq: EBAY), Robert A. Iger (Former Disney Chairman and CEO) and Rich Paul (CEO and Founder of Klutch Sports Group and Head of Sports at United Talent Agency). 
  
Press Release: https://www.prnewswire.com/news-releases/the-chernin-group-led-consortium-to-acquire-263-million-in-funko-a-leading-pop-culture-lifestyle-brand-301541298.html
 
Winston Team
Brad Vaiana, Lead Partner, New York
Jeff Shuman, Partner, Chicago
Adam Lanza, Associate, New York