Iconic collectables firm Hornby has snapped up The Corgi Model Club (CMC).

CMC started in 2021 as a third-party partnership with Hornby, which owns the Corgi brand, creating and selling contemporary editions of classic Corgi models.

Its 6,000 customers pay a monthly subscription to receive the collectable items.

Hornby says it has purchased £400,000 of existing stock from CMC, along with a further consideration of £200,000, which will now be sold directly to its own customers, generating some £2m in revenues.

It comes just weeks after the Frasers Group upped its stake in Hornby.

The Margate-based firm acquired the assets, trade and intellectual property (IP) rights from Blue 14, an investment vehicle majority-owned by entrepreneur Jim Lewcock.

Guy Stainthorpe, managing director of CMC, will join Hornby as brand MD of Corgi.

Olly Raeburn, CEO of Hornby, said: "Bringing the Corgi Model Club subscription proposition into the Hornby business makes complete sense and we anticipate driving further growth both domestically and internationally over the coming months and years.

“Furthermore, the immediate addition of over 6,000 die-hard Corgi collectors represents a great opportunity for creating additional value in the Corgi mother brand. This is an exciting development both for Corgi and for the Hornby business overall."

Guy Stainthorpe added: "Galvanising our long-term partnership with Hornby in this way is a hugely positive development for CMC and provides us with a fantastic opportunity to further develop a successful and growing business. We look forward to joining Hornby and working alongside Olly and the team."