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WHP Global Acquires Toys “R” Us Parent
Toys “R” Us has sold for the second time in two years, as New York City-based WHP Global acquired a controlling stake in Tru Kids Inc., which bought the retailer’s iconic brands out of bankruptcy in 2019. Terms weren’t disclosed.
WHP is now a significant shareholder of TRU among institutional investors including funds managed by Solus Alternative Asset Management and by the private equity group of Ares Management Corporation. Going forward, WHP will manage the global TRU business and direct its strategic expansion.
Yehuda Shmidman, chairman and CEO at WHP, said, “”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.”
The Toys “R” Us brands generate more than $2 billion in global retail sales annually through nearly 900 branded stores and e-commerce sites.
- ◦Acquisition
