Maisto buys HUMMER® in all-cash deal

Posted in Maisto by charlesmaisto on March 31, 2009

maistohummer

Die-cast and radio-control toy manufacturer Maisto roared into the full-size vehicle market on Wednesday, announcing that it has agreed to acquire the HUMMER division of General Motors Corporation, one of the sector’s top players.

Financial terms were not released. But Dewey Cheatem, the senior director of mergers and acquisitions at Maisto, said in an interview with CFN News that the Fontana, Calif.-based company has agreed to pay all cash for HUMMER, and expects the deal to close this week.

Privately held Maisto is making the leap from manufacturing a wide variety of HUMMER toys and models to the real thing. “It’s really very simple,” said chief designer George Tirebiter, “we already have HUMMER tooling in 1:14, 1:16 and other scales — all we need to do is scale them up to 1:1 size and we’ll have the most powerful and lightest weight SUVs on the planet.” He is confident that Maisto will be able to build the HUMMER H3T, for example, at only a fraction of the weight and cost of the current ones. The 1:16 Maisto R/C toy weighs about two pounds so multiplied by 16 to the full size it would tip the scales at 32 pounds. With its electric drive it should accelerate to 60 mph in about three seconds.

Distribution will change also. Deals are already in place for major “big box” stores already selling Maisto models to carry the new full-size vehicles as well. Production is expected to begin this summer with the 1:1 items in stock this October.

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8 Responses

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  1. JDawg said, on April 1, 2009 at 8:04 am

    I bet the new 32 pound models wont break as easily as the originals when someone attempts to take it off road!

  2. Adam said, on April 1, 2009 at 11:23 am

    Might as well say Maisto purchased Chrysler, GM, and Ford while you are at it.

    Good One!

    Figured you made at least one of the executives at Hummer nervous.

    Happy April Fools Day!

    By the way when is the products page going to be updated with all the cool products you guys have been advertising for 2009? I keep checking and checking.

  3. Mark said, on April 1, 2009 at 11:23 am

    April Fool’s Joke

  4. samuel manley said, on April 1, 2009 at 7:40 pm

    i think that it would be cool the the toy company to buy hummer then they own the rights to sell the name to other toy companys it well be the first for a toy company to own a full line of cars and gm can make good money from the deal way to go maisto keep up the good work

    • charlesmaisto said, on April 2, 2009 at 7:34 am

      Samuel, thanks for the vote of confidence but it was actually an April Fools prank. Maisto does not own HUMMER®.

  5. [...] is its trucks are more toy-like than real. This may explain why toy carmaker Maisto announced its purchase today, in cash, of the Hummer brand. Full new toy breakdown [...]

  6. Patty said, on April 6, 2009 at 9:57 am

    Nice touch with those phony names like Dewey Cheatem; gave me a good laugh!

  7. TY said, on April 14, 2009 at 8:43 am

    WOW!
    THAT PLACE BEHIND THE TRUCKS MUST BE REAL BIG! LOL! NO ONE BETTER NOT STEAL THOSE TRUCKS!THEY MUST HAVE REAL STRONG SECERATY!


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