Hornby, the international models and collectibles group, has acquired a 25% share in Nottingham-based Warlord Games Limited for cash consideration of £1.25 million.
Hornby has the option to acquire a majority stake in Warlord on or around the second anniversary of this initial acquisition and then to acquire any remaining shares in Warlord on future anniversaries.
Warlord was founded in 2007 by two former Games Workshop employees and is now one of the world’s leading producers of principally historical tabletop wargames, miniatures and accessories. Warlord hold the licences to produce games and miniatures for the much-loved TV series, Dad’s Army and the galaxy’s greatest comic, 2000 AD.
Warlord manufactures primarily in the UK and sells to over 600 distributors and stores around the world via their sales teams in the UK, Europe and the Americas. Warlord also operates a direct-to-consumer operation via their website.
Warlord will continue to be managed by its existing directors and the company believes that this transaction creates a number of opportunities to accelerate growth of the business further still.
Olly Raeburn, CEO of Hornby, said: “We are absolutely delighted to be able to join forces with Warlord Games, whose business we have always admired. We very much look forward to working with the team there to maximise the potential of the business and use their significant experience and expertise for the benefit of the wider group.”
John Stallard, CEO and founder of Warlord, said: “We are very much looking forward to working closely with Hornby as we have been big fans for many years. We see this as a huge opportunity to continue to build Warlord long into the future, as well as to contribute in any way we can to the future success of Hornby and its stable of iconic brands as there are innumerable opportunities and synergies in sales, marketing and production.”
