Kent-based Hornby acquires Corgi Model Club
Margate-based models and collectibles group Hornby has acquired Corgi Model Club (CMC) from Blue 14, an investment vehicle majority-owned by entrepreneur Jim Lewcock.
Launched in 2021 as a third-party partnership with Hornby, CMC creates and sells contemporary editions of classic Corgi models from the archives through a monthly subscription model.
The CMC team is based in Southampton with a factory in Swansea. Its management is now set to join Hornby, while Guy Stainthorpe, MD of CMC, has been named brand MD of the wider Corgi business.
Guy said: “Galvanising our long-term partnership with Hornby in this way is a hugely positive development for CMC and provides us with a fantastic opportunity to further develop a successful and growing business.
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“We look forward to joining Hornby and working alongside Olly and the team.”
Hornby has purchased £400,000 of existing stock from CMC to sell directly to its customers in the future, alongside an additional consideration of £200,000.
Overall, the deal will bring around £2 million revenue to Hornby at a 15 per cent operating margin, as well as more than 6,000 active subscribers.
Olly Raeburn, CEO of Hornby, added: “Bringing the CMC subscription proposition into the Hornby business makes complete sense and we anticipate driving further growth both domestically and internationally over the coming months and years.
“Furthermore, the immediate addition of over 6,000 die-hard Corgi collectors represents a great opportunity for creating additional value in the Corgi mother brand.
“This is an exciting development both for Corgi and for the Hornby business overall.”
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