Reliance Brands Ltd, a subsidiary
of Reliance Industries Ltd, acquired British toy retailer Hamleys for 620 crore
in an all-cash deal. Reliance Brands signed an agreement to acquire a 100%
stake in Hamleys Global Holdings Ltd from Hong Kong based C. banner
International.
Hamleys, founded in London in 1760,
is one of the world’s oldest retailers of toys and has changed hands several
times. It was bought in June 2003 by the Baugur Group, an Icelandic investment
company. In the same year, Hamleys was delisted from the London stock market by
Baugur Group, which had paid $68.8 million for the company. In 2012, it was
sold for $78.4 million to France’s Groupe Ludendo. Hamleys reported losses of
£12 million in 2017, when it last reported its financials.
Hamleys
has 167 stores across 18 countries. In India, Reliance Retail has the master
franchise for the brand and operates 88 stores across 29 cities. This
worldwide acquisition places Reliance on the frontline of global retail.
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