Portuguese investor Green Swan has acquired toy store chain Maxi Toys, with stores in Belgium, France, Luxembourg and Switzerland. The same fund had already acquired the Spanish and Portuguese activities of Toys “R” Us last year.
Continued expansion
Green Swan buys all of Maxi Toys’ activities, shops and logistics operations for an undisclosed fee. The capital fund has a strategic focus on the toy sector: in August 2018 it already acquired the Spanish and Portuguese activities of Toys “R” Us. The investment group wants to continue the expansion of Maxi Toys and to invest heavily in innovation and a personalised shopping adventure. CEO Alain Hellebaut remains at the helm.
“The acquisition by Green Swan will enable Maxi Toys to progress further along our omnichannel growth path in the field of marketing, management and customer experience. Within the new group, Maxi Toys will have the opportunity to be further rolled-out as an international brand”, he says. The synergy with the other toy activities of Green Swan should result in economies of scale and innovation.
The sale is good news for the 1,100 employees of the chain, and also for Blokker Holding, which can now focus further on the operational management and sales of the other companies, says CEO Michiel Witteveen. The toy sector is having a hard time: retailers are suffering from e-commerce. Last year saw the downfall of Toys “R” Us and severe trouble at the French chain La Grande Récré, whose rescue plan featured a retreat from the Belgian market.
