Brand management firm WHP Global purchases Toys R Us parent company
Toys R Us and Babies R Us are once again under new ownership after a New York-based brand management firm that already owns Anne Klein and Joseph Abboud took control of the toy retailer’s parent company Tru Kids.
WHP Global declined to offer the terms of the financial agreement in the deal with the iconic brands. Tru Kids was formed in January 2019 when it acquired Toys R Us’ intellectual property during its liquidation in 2018.
The deal comes nearly two months after the only two Toys R Us stores that opened in November 2019 as part of a small U.S. comeback attempt by the iconic toy chain closed.
Toys R Us still has a website and more than 700 stores outside of the United States.
The Associated Press wire services contributed to this report.