A new rumor in the Revell Drama Series has popped up this week. As of last Friday, the bankrupt owner of both companies, Hobbico, is sold to a German investor named Blitz 18-313 according to an article on scaleautomag.com. But yesterday Revell released a press release on the situation:
“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.
Bünde, 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 proceedings 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 Bünde
The previous management in Bünde 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 Görig, 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.”
Press release ends.
(source: user gavingav @ Britmodeller.com)
So Revell is saved, for now at least. I’ve heard rumors from shop owners and on different model maker communities about the situation, and there was a great deal of uncertainty in the community. Many asked if they should stock up on Revell kits because the companies might not be around anymore. But it seems the problems have been solved. And I’m glad, as Revell has released some pretty nice kits in the past few years. And it would be a shame to see this company go under, with its extensive distribution network.
Does this mean the Haunebu release is saved? Let’s hope so!