Gladstone takes majority stake in McFarlane Toys as founder stays on

What's the deal? Gladstone Investment CorporationDealroom has a profile for this one. Try Dealroom → has acquired a majority stake in McFarlane Toys, the collectible action figure and statue maker founded by comic artist Todd McFarlane in 1994. Gladstone funded the deal with a mix of debt and equity; financial terms were not disclosed. The announcement was made on November 6, 2026.

What each side does: McFarlane Toys designs, produces, and distributes licensed figures tied to entertainment, gaming, comics, anime, and sports, selling through retailers, distributors, e-commerce, and direct-to-consumer channels. Gladstone is a publicly traded business development company that makes equity and debt investments in lower middle market businesses, typically up to $75 million per deal.

What changes? Co-owners Todd McFarlane and Stephan Tetrault will remain meaningful shareholders and stay involved in strategy. Gladstone's backing is meant to support product innovation, new collectible categories, licensing partnerships, and international growth.

Why now? Toy M&A in the first half of 2026 was selective, with buyers favouring targeted deals that added established brands, intellectual property, or access to collectibles over large mergers. Gladstone's investment fits that pattern, backing a specialist with a long licensing track record.

In their words: "Our partnership with Gladstone represents an exciting opportunity to accelerate our growth, expand our global reach, and continue diversifying our product portfolio," said Stephan Tetrault, chief executive officer and co-owner of McFarlane Toys.

The signal: The broader market is leaning into licensed fandom, with HasbroDealroom has a profile for this one. Try Dealroom → announcing new entertainment-toy partnerships and Mattel expanding collectible and franchise offerings. By backing a founder-led collectibles specialist rather than chasing scale, Gladstone is betting that passionate collector bases and deep licensor relationships remain durable assets. With price and financing undisclosed, the deal's financial scale cannot yet be assessed.

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