The future of Revell GmBH...

.

The future of Revell GmBH...

Joined: July 19th, 2006, 11:37 am

April 16th, 2018, 4:51 pm #1

Hi everyone.

I've just received a press release on the future of Revell, which I've posted in full on my Blog. Rather that repost it here and reformat it, I thought it better to just ping a link that takes you there, explains the release and then gives you the chance to read it as supplied. Here is the link:

https://thekitbox.wordpress.com/2018/04 ... he-future/

All the best - Spence
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Joined: February 27th, 2005, 5:34 am

April 16th, 2018, 5:31 pm #2

It's basically going to be business-as- usual for Revell Germany

http://www.nw.de/lokal/kreis_herford/bu ... evell.html


The Revell GmbH in Bünde is still a company of the Hobbico Group. In the course of the proceedings last week, a "sustainable solution for a change of ownership" emerged, as stated in a statement from the company: New sole shareholder of Revell GmbH becomes a company of the international investment group Quantum Capital Partners (QCP) in Munich "This does not affect the operating business in any way," it also explains.

The purchase also includes significant assets for the North American business, including name rights and the large-scale molding bank, which is important to plastic modeling. Revell is thus experiencing a strengthening as a result of the change of ownership, because it is associated with an expansion of the sales market and an even greater variety in the offer. The current management, headed by Stefan Krings, will in future manage the worldwide business, including North America, from Bünde.


"Revell is pleased to have a strong partner at its side, Quantum Capital Partners, which will help the company grow internationally. I would like to thank all trading and business partners for the confidence during the transition period in recent weeks, "commented Stefan Krings.
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Joined: May 16th, 2005, 4:44 pm

April 16th, 2018, 6:04 pm #3

I know it's been reported elsewhere that Revell USA closed it's doors, it'd be nice to hear what the plans are from the new owners, even of its...Revell USA is officially closed....
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Joined: February 19th, 2018, 7:58 pm

April 16th, 2018, 6:39 pm #4

It says the assets of Revell USA means the moulds and these will move to Germany in due course.
As for new project doubt that will happen may be just a rebadging exercise for US Market. .
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Joined: February 27th, 2005, 5:34 am

April 16th, 2018, 6:57 pm #5

I know it's been reported elsewhere that Revell USA closed it's doors, it'd be nice to hear what the plans are from the new owners, even of its...Revell USA is officially closed....
Once the decision was made to sell off the assets, closing the doors was inevitable. The question was always about what the buyer of the assets intended to do with them. In the case of Tower Hobbies and Great Planes, the buyer, Horizon, has kept the business going and essentially rehired about half of the total workforce in Champaign. Estes rockets is essentially going to continue as it was under a new corporate identity; the old Estes shell is gone in the bankruptcy.

Once the sale of the Revell USA assets was agreed to, the company could not, legally, keep paying the employees because the proceeds of the asset sale are required to go towards the company's creditors and a company with no assets has no jobs.

Revell Gmbh was not part of the bankruptcy but was itself a debtor (to the tune of $41 million) to Hobbico). The purchaser of Revell Gmbh paid $1 for that $41M loan. They could end up writing that off, but there are usually tax liabilities associated with loan forgiveness. It remains to be seen what the continuing management of Revell Gmbh decides to do with all the molds that have just been purchased from Revell USA. My guess is that much of it will have limited appeal in Europe and therefore it will make sense to have a USA-specific product line. My guess is that a new US-based company will be formed as a subsidiary of Revell Gmbh to manage product distribution and also to help select new kit subjects for the US market.
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Joined: May 16th, 2005, 4:44 pm

April 16th, 2018, 7:23 pm #6

Thanks for the post Russ! I know they had to close the doors of Revell USA, but are the plans like you said to ship it all to Germany, rehire and reopen as a subsidary...that's kind of what I was wondering.
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Joined: March 22nd, 2018, 7:25 pm

April 16th, 2018, 7:39 pm #7

It's basically going to be business-as- usual for Revell Germany

http://www.nw.de/lokal/kreis_herford/bu ... evell.html


The Revell GmbH in Bünde is still a company of the Hobbico Group. In the course of the proceedings last week, a "sustainable solution for a change of ownership" emerged, as stated in a statement from the company: New sole shareholder of Revell GmbH becomes a company of the international investment group Quantum Capital Partners (QCP) in Munich "This does not affect the operating business in any way," it also explains.

The purchase also includes significant assets for the North American business, including name rights and the large-scale molding bank, which is important to plastic modeling. Revell is thus experiencing a strengthening as a result of the change of ownership, because it is associated with an expansion of the sales market and an even greater variety in the offer. The current management, headed by Stefan Krings, will in future manage the worldwide business, including North America, from Bünde.


"Revell is pleased to have a strong partner at its side, Quantum Capital Partners, which will help the company grow internationally. I would like to thank all trading and business partners for the confidence during the transition period in recent weeks, "commented Stefan Krings.
It all sounds pretty darned promising so far.

Thank you!

John
I'm not retro, my stash got old. ~John Krukowski
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Joined: February 28th, 2005, 5:19 am

April 16th, 2018, 8:59 pm #8

Hi everyone.

I've just received a press release on the future of Revell, which I've posted in full on my Blog. Rather that repost it here and reformat it, I thought it better to just ping a link that takes you there, explains the release and then gives you the chance to read it as supplied. Here is the link:

https://thekitbox.wordpress.com/2018/04 ... he-future/

All the best - Spence
...how many times have we read glowing words like that about a company's "bright new future" and two weeks later they're tearing down the buildings because the new owners strip anything of worth? A possible buyer of our ranch was obviously going to do that and we told him "Sorry, no deal.", so I'm sensitive to that.

On the plus side, though, I'm optimistic because they put out good products, have a veritable treasury of classic molds, and IIRC, I've seen Stefan Krings interviwed by Brett at model shows and he's very enthusiastic and committed.
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Joined: February 27th, 2005, 5:34 am

April 16th, 2018, 9:51 pm #9

Thanks for the post Russ! I know they had to close the doors of Revell USA, but are the plans like you said to ship it all to Germany, rehire and reopen as a subsidary...that's kind of what I was wondering.
The purchase deal closes on May 8. I would not think there will be any big announcements until after the sale is official.

The buyers could go in a completely different direction from my speculation but, like I said, a lot of the Revell US and Monogram tooling won't have much appeal outside the USA.
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Joined: February 27th, 2005, 5:34 am

April 16th, 2018, 9:54 pm #10

It all sounds pretty darned promising so far.

Thank you!

John
Now if we can just get Hornby's finances sorted, Airfix's future will be assured as well.
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