Hornby rescues Airfix in 2.6m deal

Hornby, the toy models group, is to buy Airfix as part of a £2.6m deal with its troubled owner Humbrol.

Hornby will take control of the Airfix model business alongside Humbrol’s paints and model accessories arm and the Young Scientist range of toys. Humbrol was placed into administration in August.

Hornby plans to restructure the business by relocating the distribution, sales and marketing operations to its site in Kent in a bid to reinvigorate the brands. It will also outsource the manufacturing process.

Frank Martin, chief executive of Hornby, says: “This acquisition consolidates the group’s strategy to build an international hobby business with a broad range of brands, allied to a tightly controlled cost-base.”

Hornby says its strategy focuses on developing traditional products for the model enthusiast and investing in new products aimed at the younger market.

Humbrol is the trading arm of the Hobby Products Group, whose brands also include Plasticine and plaster cast business Supercast. The business was forced into administration following problems with its major manufacturing supplier Heller in France, which itself was placed into administration in July.