Hornby has taken over Corgi die-cast collectable models and toys.

Hornby today (1 May) announced its acquisition of die-cast collectable models and toys producer Corgi for £7.5 million.

Under the deal, Hornby will also acquire luxury model railway brand Bassett-Lowke.

Meanwhile, Corgi said it now plans to focus on popular culture – primarily its key licences for Harry Potter, Nintendo, Beatles, James Bond, Disney, Star Trek, Halo, and its PopCo and Master Replicas brands.

Hornby has described the takeover as “highly complementary to its existing hobby brands” which includes Hornby, Lima, Jouef and Rivarossi in model railways, Scalextric slot car racing cars, Airfix models and Humbrol paints.

The manufacturer said it initially plans to focus on managing the Corgi business for growth, strengthening the product range and improving marketing and distribution support. Currently outsourced logistics will be integrated into Hornby’s existing structure along with sales administration, finance and operations.

Frank Martin, Chief Executive of Hornby, commented: “We are delighted to announce the acquisition of Corgi. It is a fantastic brand and has a superb reputation worldwide. We intend to build on the brand’s super heritage and invest to build its premier position in the market.

“The strategic fit with our existing businesses could not be better. We are confident that we will grow the scale of the business rapidly and drive it forward.”

By Natasha Piscitelli