Iconic Slot Car Brand Scalextric Sold for £20M

Scalextric, the iconic slot car racing brand, has been sold by its longtime owner Hornby for £20 million. The model railway company, which also owns the Airfix and Corgi brands, has offloaded the Scalextric business and all related intellectual property rights to Purbeck Capital Partners, a little-known investment firm.

For nearly six decades, Scalextric has been a cornerstone of Hornby's hobby business, driving significant revenue. However, the company has now decided to part ways with the famous slot car racing brand in order to focus on its core model railway operations.

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The sale marks the end of an era for Hornby, which has seen Scalextric grow to become one of the most recognizable names in the world of hobby and model racing. The brand, which was first introduced in 1957, has a rich history and loyal following among enthusiasts.

In a statement, Hornby's CEO Lyndon Davies said, "Scalextric has been an integral part of Hornby's business for many years, but the time has come for us to focus our efforts on our core model railway operations. We believe Purbeck Capital Partners is the right buyer to take the Scalextric brand forward into the future."

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Purbeck Capital Partners, the buyer of the Scalextric brand, is a relatively new investment firm that specializes in acquiring and managing niche businesses. The company has not yet revealed its plans for the iconic slot car racing brand, but industry observers are eager to see how it will be developed and marketed under new ownership.

The sale of Scalextric is the latest in a series of strategic moves by Hornby as it seeks to streamline its operations and focus on its core strengths. The company has been undergoing a major restructuring in recent years, shedding non-core assets and investments to strengthen its position in the model railway market.

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The £20 million sale price represents a significant return for Hornby, which acquired Scalextric as part of its purchase of Rovex Industries back in 1971. The iconic slot car brand has remained a key part of the company's portfolio ever since, helping to drive revenue and maintain the company's position as a leading player in the hobby and model racing market.

As Hornby turns its attention to its model railway operations, the future of Scalextric remains uncertain. However, with a new owner in place, enthusiasts and industry observers will be closely watching to see how the brand is developed and marketed in the years to come.