BusinessBusiness RecoveryHornby saves Airfix and Humbrol

Hornby saves Airfix and Humbrol

Grant Thornton administrators secure sale of Airfix and Humbrol brands to Hornby

The future of Airfix Humbrol has been secured after its was purchased by
model and train set manufacturer Hornby for £2.6m.

Hornby
will look to revitalise the Airfix brand by adding a range of kits for
younger children alongside the more traditional models it makes.

It will restructure the business by moving distribution, sales and marketing
operations to its own site in Kent.

‘The strategic fit with Hornby is excellent,’ said Hornby chief executive
Frank Martin.
‘Hornby has similar distribution channels to Humbrol/Airfix, and we therefore
plan to integrate the business into our existing structure, which gives the
business the right platform and a more streamlined base from which to grow.’

Grant Thornton
partners acted as administrators at Airfix since September, and made 31 out
of 41 staff redundant at the Hull-based business.

Keith Hinds, joint administrator, said: ‘I am delighted to be able to
announce this successful sale. This transaction provides the best opportunity to
preserve and develop what is an iconic brand.’

Further reading:

Grant Thornton steps in at
model-maker

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