HMV owner to purchase Toys’R’Us and Babies’R’Us in Canada
HMV owner Doug Putman is to acquire Toys’R’Us and Babies’R’Us in Canada from Toronto based Fairfax Financial Holdings.
Toys’R’Us and Babies’R’Us Canada employs just under 5,000 people who work from the company’s head office in Vaughn or at its 81 stores across 10 provinces.
Putman, pictured with daughter Hadley and niece Anna, said: “Toys’R’Us and Babies’R’Us are extremely strong brands that have been in great hands over the past three years. Since its split from the US, we’ve watched the way in which the company has grown and focused on the Canadian customer. Much has been achieved and we’re excited to help to drive the business forward.”
Although he has no immediate plans to bring Toys’R’Us and Babies’R’Us back to the UK, Putman said he would continue to assess any opportunities that made business sense.
Putman is also the owner of Sunrise Records in Canada.