Dewhurst Dent said synergies between the two businesses, which include a long heritage, luxury consumer base and large export business, meant the acquisition made sense.
Following the deal, Corgi managing director Huw Jones will retire after more than 40 years. However, he will continue as an adviser to the new joint managing directors Chris Jones and Lisa Wood, who are the great-great-grandchildren of company founder Rhys Jones.
Dewhurst Dent, which as well as Dents also owns the Portraits brand, was founded in 1777 and is based in Warminster in Wiltshire, where it produces two Dents ranges a year.
Corgi is located in the village of Ammanford in south Wales.
Dewhurst Dent chairman and managing director Robert Yentob said: “Corgi is a top-end accessories business and has a lot of similarities to what we are doing. We think we can move the business forward and have already made moves to double the capacity in the factory. There is also scope to expand its womenswear offer.”