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For almost six decades Hornby<\/a> has watched Scalextric drive revenues for its hobby business but on Friday the company said it had decided to sell the famous slot car racing brand for \u00a320m to a little known buyer.<\/p>\n The model railway company, which also sells toy planes and cars under the Airfix and Corgi brands, has sold the Scalextric business and intellectual property rights to Purbeck Capital Partners.<\/p>\n Kent-based Hornby, which experienced a hobby boom during the Covid pandemic<\/a>, has owned Scalextric since 1968. Invented by Fred Francis, the very first Scalextric set was made in Hampshire in 1956.<\/p>\n On Friday, Hornby\u2019s parent company, Castelnau, which also owns businesses including the funerals firm Dignity, said it was selling the car racing business to Purbeck Capital Partners.<\/p>\n Purbeck is run by Mark Brown, the former chief executive of Sazerac, the US-based spirits company that owns brands including Southern Comfort<\/a>. The deal is the first investment by Brown\u2019s family office.<\/p>\n Hornby, which dates back to 1901<\/a> and produced its first model train set in 1920, said the proceeds of the sale will be used to pay down debt and invest in its other brands.<\/p>\n The company said it will manage the Scalextric business as an agent and support it through its existing infrastructure.<\/p>\n