"Our investment in Toys "R" Us reflects our belief and passion for the brand," Yehuda Shmidman, chairman and chief executive officer, WHP Global toldaNb Media.
"We are thrilled to be taking the reins of the world's leading toy brand at a time when the category is up 16 percent 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."
WHP manages more than $3 billion in retail sales across its brands, including TRU and its fashion brands. WHP is backed by a $350 million equity commitment from Oaktree Capital Management's funds, with a leverage facility provided to WHP by funds and accounts managed by BlackRock.
Toys" R" Us and Babies "R" Us generate more than $2 billion in global
WHP is now a TRU shareholder among a group of investors that includes funds managed by Solus Alternative Asset Management and funds managed by the Private Equity Group of Ares Management Corporation. WHP will manage the global TRU business and direct its strategic expansion.
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