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Smyths Toys to buy Toys R Us in Germany, Austria and Switzerland

Smyths Toys to buy Toys R Us in Germany, Austria and Switzerland

The Irish toy retailer Smyths Toys Superstores has signed a deal to take over Toys R Us in Germany, Austria and Switzerland.

The deal was revealed by the German arm of the insolvent retailer on Saturday.

The family-owned Smyths will acquire 93 shops and four online stores via the planned deal, Toys R Us said in a statement on its German website. Financial details were not disclosed.

Rumours of the move from Smyths Toys emerged late last week but until now, neither Toys R Us or Smyths Toys had confirmed.

Toys R Us said last month it would try and maintain its more profitable locations in Europe and Asia as an on-going business while liquidating its US and UK operations.

The Irish company, Smyths, which runs 110 stores plus websites in Britain and Ireland, plans to take on all the Toys R Us units, staff and management in Germany, Austria and Switzerland.

“We are convinced that multi-channel toy retailing will develop positively and that we can successfully introduce and expand our brand in Europe,” co-founder Tony Smyth said.

The deal is subject to the approval of the US court and relevant authorities. 

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent some six years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobHutchins3 if ranting is your thing...

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