HORNBY: FIRST ACQUISITION SINCE FRASERS INVESTMENT Hornby has made its first acquisition since Mike Ashley's Frasers Group invested in the company last month. The Kent-based business has snapped up the assets, trade and intellectual property of The Corgi Model Club (CMC) from Blue 14, an investment vehicle majority-owned by entrepreneur Jim Lewcock. The management of CMC, which was established in 2021 as a third party partnership with Hornby, will join the business. The deal is being financed through the purchase of £400,000 of existing stock from CMC, which will be sold directly to Hornby customers in the future, and an additional consideration of c. £200,000.

(c) 2024 City A.M., source Newspaper