Reliance Brands completes acquisition of Hamleys
PTI, Jul 18, 2019, 12:58 PM IST
New Delhi: Reliance Brands, a subsidiary of Reliance Industries, has completed acquisition of British toy retailer Hamleys for GBP 67.96 million (about Rs 620 crore) in an all-cash deal.
In May this year, Reliance Brands had signed an agreement to acquire 100 per cent stake in Hamleys Global Holdings from Hong Kong-based C.banner International.
Reliance Brands has completed acquisition of 100 per cent stake of Hamleys Global Holdings (HGHL) through a special purpose vehicle company set up in United Kingdom for cash consideration of GBP 67.96 million, Reliance Industries said in a BSE filing Thursday.
Hamleys, founded in London in 1760, is one of the world’s oldest retailers of toys and has changed hands several times.
In 2015, China’s C.banner International had acquired Hamleys in a GBP 100-million deal. In October last year, Sky News reported that C.banner International, which is listed on the Hong Kong Stock Exchange, had launched a strategic review of loss-making Hamleys and was looking to sell it.
Hamleys has 167 stores across 18 countries. In India, Reliance Retail had the master franchise for the brand and operates 88 stores across 29 cities.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls
Sensex, Nifty fall for 2nd day on FII selling; RIL, ICICI Bank major drag
Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision
SC orders liquidation of grounded air carrier Jet Airways’ assets
Home-cooked meals become dearer in October on costlier vegetables
MUST WATCH
Latest Additions
UP women’s body proposes men shouldn’t tailor women’s clothes or cut their hair
NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls
After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message
24/7 CT Scan Facility Inaugurated at Dr. TMA Pai Rotary Hospital, Karkala
Bengaluru Police Eye Care Project inaugurated
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.