Big Law
New York-Based Brand Management Company Has Announced the Acquisition of Toys ‘R’ Us
New York (CNN Business)Toys “R” Us is changing hands again, less than two years after Tru Kids Inc. bought it in a liquidation sale.
WHP Global, a New York-based brand management company, announced Monday it has bought a controlling interest in Toys “R” Us’ parent company and will now manage Tru Kids’ business and growth. The terms of the deal weren’t disclosed.
“We are thrilled to be taking the reins of the world’s leading toy brand at a time when the category is up 16% and consumer demand for toys is at an all-time high,” said WHP CEO Yehuda Shmidman in a press release. Toy sales have soared as bored families look for something to do.
Plans for the brand weren’t immediately revealed. However, Shmidman said the sale was a “natural fit” for WHP because it can use its “global network and digital platform to help grow Toys “R” Us and Babies “R” Us around the world.”
