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Hobbico (Revell) splitting up assets?

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  • Member since
    March, 2004
  • From: Northborough, Mass.
Hobbico (Revell) splitting up assets?
Posted by rbouque77 on Sunday, April 15, 2018 4:49 PM

Please tell me everything is going to OK . I really thought Revell hit its stride in the last decade and came out with some nice kits.  

http://www.news-gazette.com/news/local/2018-03-24/horizon-hobby-agrees-make-188m-bid-hobbico-units.html

“Nothing great was ever achieved without enthusiasm.” ― Ralph Waldo Emerson

Bob

  • Member since
    March, 2004
  • From: Northborough, Mass.
Posted by rbouque77 on Sunday, April 15, 2018 6:25 PM

Sorry, I did a better search and saw that this was covered on the SAE forum earlier!

http://cs.scaleautomag.com/sca/general_discussion/f/3/t/127030.aspx

Please carry on...  

 

“Nothing great was ever achieved without enthusiasm.” ― Ralph Waldo Emerson

Bob

  • Member since
    August, 2016
Posted by mini man on Wednesday, April 18, 2018 4:48 PM

I saw this,Revell USA is no more but Revell Germany has taken it on.

 
Revell GmbH starts strengthened into future with new owner

Revell GmbH (Germany) announces today that in a court hearing which took place on 13 April 2018 at the US court having jurisdiction in Delaware the sale of Revell GmbH has been confirmed in favor of a company of the international investment group Quantum Capital Partners (QCP) with its company seat in Munich (Germany) as sole shareholder. The sale happened in the course of Hobbico, Inc.'s restructuring process under Chapter 11.

Bunde, 16 April 2018
For Revell GmbH, which so far belonged to a company of the Hobbico, Inc. group in Champaign (USA) initiating a restructuring process under Chapter 11 of the US bankruptcy code at the turn of the year and announcing its plans to sell the group of companies, a lasting solution in terms of change of ownership emerged throughout this proceeding on 13 April 2018. New sole shareholder of Revell GmbH will be a company from the international investment group Quantum Capital Partners (QCP) in Munich. The operating business will not at all be impaired by this.

German investor as new Revell owner
The sale also includes key assets for the North America business, such as trademarks as well as the extensive tool bank being so important for the plastic model building segment. With the change of ownership Revell experiences a strengthening, as this involves an extension of the sales market and an even wider range of products.

Worldwide business operated from Bunde
The previous management in Bunde under the control of Stefan Krings will in future operate the worldwide business including North America.
"Revell is very happy to have Quantum Capital Partners as strong partner, who will assist the company to reach its further international growth. At this point I like to also thank all trade and business partners for the confidence they have placed in us in the past weeks of interim period", is the comment from Stefan Krings on this news.

Steffen Gorig, representative of QCP further explains: "Revell is a well-known and well- established company and it has shown impressively in the past how to found its position as successful toy brand. We will build on this strength and will further develop the Revell brand with its unique position as provider of model kits and toy manufacturer. We look forward to assist Stefan Krings and his team in that achievement and to realize the full growth potential of Revell".

 

 

Nigel.

 

  • Member since
    December, 2003
  • From: Nova Scotia
Posted by Bainford on Thursday, April 19, 2018 10:40 AM

Thanks for posting, Nigel. This helps to sort out some of the rhetoric I've been reading lately.

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  • Member since
    March, 2010
  • From: Midwest
Posted by High octane on Thursday, April 19, 2018 1:23 PM

Nothing is sorted out as yet, just be paitient and wait for the dust to settle. I'm sure that the sale of Revell won't stop you or many others from building model cars.

High octane

  • Member since
    December, 2003
  • From: Nova Scotia
Posted by Bainford on Thursday, April 19, 2018 2:19 PM

High octane
Nothing is sorted out as yet, just be paitient and wait for the dust to settle. I'm sure that the sale of Revell won't stop you or many others from building model cars.

To be brutally honest, if Revell closed it's doors today, I'm not really sure I would notice. At least not for quite some time. That is not a slight against Revell. I hope they keep on keeping on for very many years to come, but aside from a couple of vintage kits, in the last few years I have probably purchased fewer Revell kits than just about any other kit maker. It's simply a product of my age and stage of building activities, and changing automotive interests.

Nonetheless, long live Revell!

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  • Member since
    November, 2004
  • From: UK
Posted by PatrickW on Friday, April 20, 2018 1:45 AM

We have a HobbiCo warehouse about 12 miles from us here in the UK at Milton Keynes. There's been no word of redundancies or it's closure as yet.

I don't do anti-social media,but some friends tell me that staff there have commented about poor working conditions, long hours, lack of management connection with the warehouse workers. Some have commented that they do there 12 hour shifts and management send a message down from above, as they are leaving that they must stay on and work extra hours to clear order backlogs, that the workers didn't know about and were not made aware of!

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