Smyths Toys Deny Interest in France or Spain’s Toys R Us

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Among the reams of documents filed in the US for the proposed €79 million Smyths Toys takeover of the central European division of Toys R Us, there is some redacted material about the financing of the bid and how payments will be structured, the Irish Times reported. What could be so secret about some portions of the transaction? Smyths is proposing to buy 93 mostly German (with some Swiss and Austrian) Toys R Us stores, instantly launching the Irish company to the top of the table of speciality toy retailers in Europe. Group sales at its existing 110-strong network are nearing €600 million, and this deal will put the €1 billion barrier in Smyths’ sights. Yet it is hungry for more. Tony Smyth, a director of the family-owned group, suggested last month that Smyths sees the central European Toys R Us deal as a springboard for further continental expansion: “It provides a great starting point for our expansion.” Read more. (Subscription required.)