Hornby snaps up 25% stake in Nottingham wargames manufacturer

A wargames manufacturer and distributor set up by two former Games Workshop employees has offloaded a 25% stake to model toy giant Hornby in a deal worth £1.25m.

Hornby has the option to acquire a majority stake in Warlord on or around the second anniversary of the acquisition and then to acquire any remaining shares in Warlord on future anniversaries.

Warlord was founded in 2007 and is now one of the world’s leading producers of principally historical tabletop wargames, miniatures and accessories. Warlord hold the licences to produce games and miniatures for the much-loved TV series, Dad’s Army and 2000 AD.

Warlord will continue to be managed by its existing directors.

Olly Raeburn, CEO of Hornby, said: “We are absolutely delighted to be able to join forces with Warlord Games, whose 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.”

John Stallard, CEO and founder of Warlord, said: “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.”