Toys R Us buys FAO Schwarz

"Distinctiveness and integrity" of brand to be preserved says TRU chief exec.
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Toys R Us has acquired big name US toy outfit FAO Schwarz for an undisclosed sum.

The company will continue to operate the two FAO retail stores in New York and at the Caesars Palace in Las Vegas. TRU also said it will offer jobs to existing FAO staff at both locations.

Jerry Storch, TRU chief executive, said in a statement: "We will work tirelessly to preserve the distinctiveness and integrity of the FAO Schwarz stores and brand as we grow the business."

The company said it will continue to operate FAO Schwarz e-commerce and catalogue operations. All merchandising, management, distribution and marketing operations will immediately be taken over by Toys R Us.

Earlier this year, Toys R Us expanded its online brand with the purchase of eToys.com, babyuniverse.com, Toys.com and parenting resource site ePregnancy.com.

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