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Hornby Acquires Corgi Die-Cast Business For $15 Million Date: 5/16/2008 |
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The UK-based Hornby Hobby Toys has acquired the brand, tooling and intellectual property rights to Corgi International's die-cast business, returning the maker of collectible die-cast toys to English control and uniting two popular UK brands. Corgi has licensed the die cast rights to Star Trek (see ?Corgi Renews Star Trek License?), Batman, Harry Potter, James Bond (see ?Corgi Gets Bond Master Toy License?), the Beatles, and Halo (see ?Corgi?s Halo 3 Lineup?). The deal does not include Corgi's licensed product and distribution businesses (including Master Replicas), which will continue independently under the name Popco Entertainment. Since 2006 when it acquired Cards Inc. and Master Replicas, Corgi has been an aggressive player in the field of collectible toys, and moved beyond its traditional die cast niche by grabbing the master toy license for some high profile projects such as The Golden Compass. But the bold moves didn?t pan out and the company?s Hong Kong investors decided to sell assets. They recently divested the Cards Inc. division (see ?Corgi Sells Cards Inc.?), before deciding on the deal with Hornby. Hornby paid 7.5 million pounds (about $15 million dollars) to acquire Corgi. Hornby plans to strengthen the Corgi product line and improve both marketing and distribution. |
| Source: ICv2 |
