Toys ‘R’ Us Parent Sells Controlling Stake to Management Company WHP Global(Reuters) – New York-based brand acquisition and management firm WHP Global said on Monday it had taken a controlling interest in Toys ‘R’ Us parent, Tru Kids Inc, more than three years after the toy retailer filed for bankruptcy.
Tru Kids, owned by investment funds including Solus Alternative Asset Management, had taken charge of assets including Toys “R” Us and Babies ‘R’ Us in early 2019, as part of a plan to revive the brands after the retailer’s bankruptcy.
WHP said it would manage the global TRU business going ahead for an undisclosed amount. The deal comes at a time when toymakers, including Hasbro Inc and Mattel Inc, have been seeing a sales boom as people staying indoors buy games.
(Reporting by Aditi Sebastian; Editing by Amy Caren Daniel)