Lledo was founded in 1982 by Matchbox co-founder Jack Odell (Lledo being his name spelled backwards) together with his friend Burt Russell. The factory produced diecast vehicles in Enfield, England from 1983 to 1999 with later models being made in China.

Very successful with their 'Days Gone' and Promotional ranges Lledo launched their Vanguard series in 1996 and although early sales were promising the business finally succumbed to the changing market and was wound up in 1999. 

After closure Corgi acquired the naming rights and continued to produce models under the brand name until 2005 before finally merging them into their Corgi Classics range.