WHP, a New York City-based brand acquisition and management firm, has acquired a controlling interest in Tru Kids Inc., parent company to the Toys R Us (TRU), Babies R Us, Geoffrey the Giraffe brands, and more than 20 related consumer toy and baby brands.
WHP is now a significant shareholder of TRU among a group of institutional investors that includes funds managed by Solus Alternative Asset Management and funds managed by the Private Equity Group of Ares Management Corporation. Going forward, WHP will manage the global TRU business and direct its strategic expansion.
“Our investment in Toys R Us reflects our belief and passion for the brand,” said Yehuda Shmidman, chairman and CEO at WHP. He has served as vice chairman of TRU since 2019. “We are thrilled to be taking the reins of the world’s leading toy brand at a time when the category is up 16% and consumer demand for toys is at an all-time high. 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.”
Toys R Us and Babies R Us generate over $2 billion in global retail sales annually through nearly 900 branded stores and e-commerce sites in over 25 countries across North America, Europe, Asia, Africa, Australia and the Middle East. In addition, there are more than 20 related consumer brands in the portfolio, including Journey Girls, Fastlane, True Heroes, You & Me®, Just Like Home and Imaginarium.
Including TRU and its fashion brands, WHP manages over $3 billion in retail sales across its portfolio of brands. WHP is backed by a $350 million equity commitment from funds managed by Oaktree Capital Management L.P. with a leverage facility provided to WHP by funds and accounts managed by BlackRock.
