It was just this January when the terrible news broke that one of the world’s largest RC hobby distributors, Hobbico, was going bankrupt. Now it appears that at least some of Hobbico’s assets are being purchased by another RC hobby powerhouse, Horizon Hobby! According to the News Gazette a bankruptcy court has approved Horizon Hobby’s $18.8 million purchase of Hobbico’s RC business. The deal includes Hobbico’s Great Planes and Tower Hobbies divisions, along with the Axial Racing and Arrma brands.
Hobbico’s model rocket brand, Estes, was approved by the same court to be sold for $7 million to an investment organization called The Langford Group out of Corona Del Mar, California. “An auction for Hobbico’s remaining assets — including United Model, Revell US and Revell Germany — was temporarily suspended last week.” There is no word on what will happen to the rest of Hobbico’s other brands such as Futaba, Duratrax, OS Engines and Dromida.
Though it is unclear how many will be hired, Hobbico’s employee base of over 300 people are being asked to apply for positions with Horizon Hobby through their website. “Hobbico employees will be applying for jobs in departments at Horizon rather than specific positions, and a temp agency is helping Horizon process the applications.”