Irish toy retailer Smyths Toys has signed a deal to acquire online and offline assets of Toys ‘R’ Us in Germany, Austria and Switzerland for an estimated aggregate purchase price of $96.6 million (€79 million). Smyths Toys intends to rebrand the stores under its own banner.
The transaction will include 93 physical stores and four e-Commerce sites, and is subject to approval by U.S. Bankruptcy Court and other relevant authorities, according to Reuters. Smyths Toys currently operates 110 stores and associated web sites in Britain and Ireland.
Other companies have shown interest in international Toys ‘R’ Us store: Fairfax Financial Holdings, a Toronto-based investment firm, has placed a $236 million bid ($300 million CAD) on the retailer’s 82 Canadian stores. A stalking horse auction is scheduled for April 23.
Meanwhile, the toy retailer’s Asian business has drawn multiple bids of more than $1 billion each, and Toys ‘R’ Us rejected an $890 million bid from MGA Entertainment CEO and Founder Issac Larian to buy all Canadian and certain U.S. locations.