Toys”R”Us may be closing all of their stores in the US, but in Germany, fans of the once popular toy chain got some good news over the weekend when Irish toy group Smyths Toys announced it had signed an agreement to acquire all 93 stores across Germany, Austria, and Switzerland.
Not part of the deal is the Toys”R”Us name, but for toy lovers and the hundreds of employees who now get to keep their jobs, it is still an announcement to celebrate.
Once the deal receives approval of the U.S. court and relevant authorities, Smyths Toys will instantly become Europe’s largest toy and baby goods retailer.
“After extensive exploratory talks, I am very pleased that Smyths Toys has won the bidding process for our company,” said Detlef Mutterer, CEO of Toys”R”Us Central Europe. “Smyths Toys is a highly successful trading company that has grown strongly in the past. We look forward to working together over the coming years, responding to customer needs and driving the business together.”