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Benzinga
Benzinga
Business
Shivani Kumaresan

Funko Consolidates Its US Distribution Facility To Arizona

Funko United States Arizona FNKO Pop (Organization) Andrew Perlmutter Funko Inc Gold (Organization) Loungefly Nasdaq
  • Pop culture lifestyle brand Funko Inc (NASDAQ:FNKO) has relocated its main U.S. distribution facility from several distribution centers in Washington to one distribution center in Arizona.
  • The company is leasing a 958,000-square-foot facility in Buckeye, Arizona, which will create over 300 jobs.
  • Funko expects the facility to be operational in April 2022.
  • The new facility will distribute the Funko portfolio of brands, including Pop!, Paka Paka, GOLD, Loungefly, Funko Games, and more.
  • "The consolidation of several warehouses to one single facility will better improve our customer experience and maximize growth opportunities as our business scales," said CEO Andrew Perlmutter.
  • Funko's corporate headquarters remain in Everett, Washington.
  • Price Action: FNKO shares are trading lower by 0.56% at $17.74 on the last check Thursday.
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