Toy and model maker Hornby is making a play for the tabletop with the acquisition of minority interest in Warlord Games.
In the past few years, we’ve seen a bunch of mergers and acquisitions in the gaming world, and while this one might not be as giant as Asmodee, it’s still a sizeable sale. Plus, while Horby is getting a minority stake in the company, over time, they have the ability to acquire more.
Warlord Games has a wide array of tabletop games in quite a few different scales, and it’s interesting to see Hornby make this move, as while they make miniatures, they generally don’t do tabletop games.
Warlord Games Announces Hornby Acquiring Stake in Company
After news circulated about the minority acquisition, Warlord Games issued a statement via thier email newsletter list on July 12, 2023.
We are delighted to announce that international model and collectibles group, Hornby PLC have purchased 25% of the equity of Warlord Games Ltd. with an option to acquire more of the business in the future.
We know that change is sometimes a scary proposition but we want to allay your fears – it’s business as usual for us here at Warlord HQ! The existing management team will remain in place to drive the business as we always have – with our fantastic customers foremost in our minds and the innovative and fun approach we built the company on 16 years ago.
Indeed we all see great synergy with the existing Hornby brands such as Airfix, Humbrol, Scalextric, Corgi, et al. There are many great opportunities for both companies by pooling resources, talent and experience thereby accelerating the growth of the businesses and your favourite game ranges!
Hornby Acquires Minority Interest in Warlord Games: (June 6th, 2023)
Warlord Games is generally known for its historical games and was founded in 2007 by two ex-Games Workshop employees. Over that time, they acquired some other licenses, including Dad’s War and 2000 AD.
Hornby has now acquired 25% of the company for £1.25m, but it looks like they will have the option to acquire a majority stock on or around the second anniversary of the deal. Then, they can acquire any remaining shares on the anniversaries.
So, it looks like this is a little longer-term play to acquire the whole company if things go well.
If you have played any of their games, things don’t look to be changing too quickly, with the current leadership still running things over at Warlord. They believe the extra cash infusion will help them move the company and games forward.
This is also giving Warlord an extra line of credit that they can draw on to extend the games and make positive moves in the future. While Hornby doesn’t have tabletop games, they have a giant fanbase and plenty of production.
Here’s what Hornby had to say about the merger:
We are absolutely delighted to be able to join forces with Warlord Games, a 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
Warlord had the following to say:
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.
This should give them more access to both manufacturing and capital, so it should be good for Warlord Games overall. We’ll have to see what types of changes they implement with the new partner and money.
What do you think about Hornby acquiring minority ownership of Warlord Games?
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About the Author: Travis Pasch
Travis Pasch
Job Title: Head Writer & Editor
Socials: @paschbass
About Travis Pasch: Travis has been a Warhammer 40k hobbyist since the 1990s, playing the game since Third Edition. Through extensive traveling, he’s seen a lot of the miniatures hobby from across the world, giving him a unique perspective on the latest gaming topics and trends.
Travis’s brother even owns a commission painting studio, where he’s picked up a lot of good advice and techniques for painting Warhammer and tabletop miniatures over the years, as well. Travis joined the Spikey Bits team in 2019 and has been the lead writer since 2020.
Currently, he’s working on converting all his 40k Adeptus Mechanicus models and becoming a true tech enjoyer, complete with both sad and happy robot noises!
