New York-based brand acquisition and management firm WHP Global recently announced acquiring a controlling interest in Tru Kids Inc., parent company of Toys"R"Us (TRU), Babies"R"Us, Geoffrey the Giraffe brands, and more than 20 other consumer toy and baby brands, including Journey Girls, Fastlane, True Heroes, You & Me, Just Like Home and Imaginarium.

TRU 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.

WHP is now a significant shareholder of TRU among a group of institutional investors, which include 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, WHP said in a press release.

WHP manages over $3 billion in retail sales across its portfolio of brands. It 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.

Fibre2Fashion News Desk (DS)

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