Plastic model-car maker Revell-Monogram LLC has a new owner intent on maintaining the brand and its products.
Hobbico Inc., a distributor of radio-controlled airplanes, boats and other models, has purchased Northbrook, Ill.-based Revell-Monogram. Hobbico said it plans to keep the Revell-Monogram brand and its design and distribution of injection molded models.
Revell-Monogram officials said the shift should provide a solid future for the toy company, founded in 1945.
``Revell has had seven different owners over the last 37 years,'' Revell-Monogram President Jim Foster said in a May 2 news release. ``This new combination with Hobbico represents a unique partnership that provides stability ... and the resources to create new models.''
Since 2000, Revell-Monogram has been owned by Hallmark Cards Inc., Alpha International and private investment group John Long Partners.
The company employs 60 in Northbrook overseeing design and distribution. Its models are molded in China. Foster and his staff will remain with Revell-Monogram, which will operate as a Hobbico subsidiary.
Hobbico, based in Champaign, Ill., understands the plastic model business because those products are a key entry point for enthusiasts who eventually turn to radio-controlled models sold by other Hobbico subsidiaries, said Hobbico President Wayne Hemming.
``Plastic kits are the foundation of model building,'' he said. ``We are committed to giving Revell the support it needs.''
The companies did not disclose a purchase price. Revell-Monogram's European unit, Revell AG, was sold to its man- agement group in September and now operates as Revell GmbH in Bunde, Germany.