Smyths has pounced on Toys R Us’ store network across central Europe, buying up 93 stores shops across three countries.
The toy retail giant is set to rebrand all the former Toys R Us stores in Germany, Austria and Switzerland, absorbing all employees and management.
It already has 90 stores across Britain and Northern Ireland, as well as 21 shops in the Republic of Ireland where it is based, but this will mark its first foray into mainland Europe.
Toys R Us, which collapsed earlier this year, is due to cease trading in its remaining UK stores today.
“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,” co-founder Tony Smyth said.
“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.”
Toys R Us managing director of central Europe Detlef Mutterer added: “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.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
