Smyths Toys to acquire German arm of Toys ‘R’ Us
The move will add a further 90 stores in the three countries to Smyths Toys’ 100 strong store network in the UK and Ireland.
Speaking on behalf of Smyths Toys, Tony Smyth said: “We are convinced about the future of multichannel specialist toy retail and are confident that we can successfully introduce and grow our brand in continental Europe. The Toys 'R' Us business is profitable, has a strong leadership team and already has many loyal customers. It provides a great starting point for our expansion.”
With the deal subject to regulatory approval, Smyths Toys will acquire and rebrand all Toys ‘R’ Us businesses in Germany, Austria and Switzerland, as well as take on all employees and management including a head office in Cologne.
Toys ‘R’ Us Central Europe managing director Detlef Mutterer said: “Smyths Toys is a proven leader in the retail industry. They have achieved strong growth in recent years and will complement our business in an ideal way. We already have many suppliers in common and we see this as good news for the supplier community and our other business partners.”
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