Hornby PLC acquires toy car maker Corgi Classics in 7.5 million-pound deal
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[May 01, 2008]

Hornby PLC acquires toy car maker Corgi Classics in 7.5 million-pound deal

(Associated Press WorldStream Via Acquire Media NewsEdge) LONDON_Hornby PLC has expanded its range of toy models by acquiring Corgi Classics in a 7.5 million-pound (US$14.8 million; ?9.5 million) deal.

Corgi started producing die-cast models in 1956 and its miniature cars, truck, buses and airlines have been collected for generations.

Hornby said Thursday it was buying the Corgi Classics brand, tooling and intellectual property rights from Corgi International Ltd. of Hong Kong.

Sales of Corgi Classics totaled 6.5 million pounds (US$12.8 million; ?8.2 million) last year.



Hornby, based in Margate, England, is a leading producer of model trains and Scalextric racing cars.



Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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