Frasers Group has acquired a near 9% stake in model trains-to-planes firm Hornby as it continues its acquisition spree.
The latest investment builds on an existing partnership with the toy company, which has its Scalextric and Airfix brands stocked in Frasers’ 320 Game stores and concessions around the UK.
Hornby said the retail empire had snapped up 11.1m of its shares on Friday, raising its total holding to 8.9%, The Standard reported.
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Frasers CFO Chris Wootton said: “Frasers Group has a vision to build the planet’s most admired and compelling brand ecosystem.
“Hornby’s portfolio of unique heritage brands are already part of GAME’s product offer and we look forward to exploring opportunities to further leverage our scale in retail logistics and distribution.
“This is consistent with our strategy of pursuing strategic interests to enhance value for all stakeholders.”
Hornby boss Olly Raeburn said: “Frasers Group has built a powerful ecosystem through its brand partners, scaled shared services, and distribution channels.
“We have long admired their approach to merchandising and logistics and welcome them as a supportive shareholder.”
Raeburn added that Hornby looked forward to “exploring commercial opportunities” with Frasers.
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