Author Topic: Sale of Revell USA and Revell Germany  (Read 98 times)

Offline Elm City Hobbies

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Sale of Revell USA and Revell Germany
« on: Sun Apr, 15, 2018, 05:21:PM »
Not sure if many of you knew, but both Revells were sold this week to an equity firm from Germany

Not much is known of who they are at this point, but they set up a company called Blitz, about a day after Hobbico filed for bankruptcy protection.

All companies of Hobbico were to go up for auction. Horizon Hobby purchased Great Planes Models, Tower Hobbies, Axial and Arma. A group of the former owners of Estes bought Estes Rockets, but Revell and ROG were left in limbo, as there were concerns with some of the licensees being still owed money (Ford) and they wanted to renegotiate any license contract to whomever the new owners were, before allowing the sale.

This past week, the sale went through (pending any issues with the sale which is due Monday).

The 2 companies were worth an estimated $18million, and this new company Blitz got it for pennies on the dollar, for just under $4million. A bulk of that going to pay for existing inventory in Revell USA's Illinois warehouse. Revell USA tooling worth an estimated $3.5million was sold as part of the contract for $50000. ROG was sold by Blitz buying the remaining shares that Hobbico UK held for around $900000.

The most disheartening part about it, no offer was made (as of yet) for any of the real estate, buildings and such that Revell USA operated out of, and as such the employees of Revell USA were told this past Thursday, that Friday would be their last day of work.

As such, as of this moment, Revell USA no longer exists, and that it is just Revell which includes the US and German operations. No idea what is going to happen to the tooling in China (ROG tooling is in Poland), or the tooling in the US (yes there is some still in the US) or the inventory of kits that was in the Revell warehouse.

Should be interesting to see what will come out of this in the future.

For more information, check out The Stash Project's video on this.

https://youtu.be/4vW2e4rmJ44

Warning, it is a long one at about 40mins

Offline Quaralane

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Re: Sale of Revell USA and Revell Germany
« Reply #1 on: Mon Apr, 16, 2018, 12:14:AM »
Yikes.
REALLY sad day in the hobby here
"There must be some way out of here," said the Joker to the Thief.
"There's too much confusion. I can't get no relief."
--Bob Dylan, "All Along the Watchtower" 1965--

Offline Elm City Hobbies

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Re: Sale of Revell USA and Revell Germany
« Reply #2 on: Mon Apr, 16, 2018, 01:47:AM »
Yes and no. I think it is just because of a lot of uncertainty over what happens now.

Sucks that the employees at Revell were given a days notice that they no longer have a job.

I don't see this new company hauling the stock and what tooling that is left in the US back to Germany, just to turn the stock around out to North American distributors.

Revell USA acted as their own importer as well as the importer for ROG kits, so I don't see this new company giving that away, as they would have to find new importers for both lines. I would assume they will end up with a small office and warehouse staff to do that job, meanwhile the US tooling may be sent to China with the rest, but the design and marketing for all Revell kits would be operated out of Germany. Still have Poland make the ROG kits, China makes the RUSA kits, and both are sent to a central warehouse in the US for North American distribution.

In my mind makes the most sense, but who knows.

Offline Grendels

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Re: Sale of Revell USA and Revell Germany
« Reply #3 on: Tue Apr, 17, 2018, 02:10:AM »

Offline The Chaos

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Re: Sale of Revell USA and Revell Germany
« Reply #4 on: Tue Apr, 17, 2018, 03:41:PM »
Tanks for the Information
Currently under construction,
a lot
Kind regards from Berlin.
Chris