WHP Global has announced that it has acquired a majority stake in Tru Kids, the parent company to Toys R Us (TRU.)

The acquisition firm reportedly has plans to relaunch the brand in the US, which collapsed back in 2017.

According to WHP, Toys R Us and Babies R Us generate over $2 billion in global retail sales annually. The retailer currently has nearly 900 stores across 25 countries globally, including in North America, Europe, Asia, Africa, Australia, and the Middle East.

"Our investment in Toys R Us reflects our belief and passion for the brand,” said Yehuda Shmidman, chairman and chief executive, WHP. “We are thrilled to be taking the reins of the world's leading toy brand at a time when the category is up 16 per cent and consumer demand for toys is at an all-time high.

He added: “This is a natural fit for WHP, as we can leverage our global network and digital platform to help grow Toys R Us and Babies R Us around the world."

Shmidman has served as Vice Chairman of TRU since 2019.

WHP is backed by a $350 million equity commitment from funds managed by Oaktree Capital Management, with a leverage facility provided to WHP by funds and accounts managed by BlackRock.

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