Green Swan buys Toys R Us in Portugal

 In News

The Portuguese business angel Green Swan has purchased troubled toy chain Toys R Us in Portugal and Spain.

The fund plans turn the ailing chain around on the Iberian peninsular by investing in new on-line technology platforms.

Toys R Us, one of the great retail success stories of the 1980s, has been struggling to compete with higher rental prices and stiff competition from online platforms such as Amazon.

Paulo Andrez, fund representative, says that Portuguese companies will have with the new company  a “gateway to the world” as well as new innovations and products for consumers.

Green Swan bought Toys R Us Iberia for €80 million. “This is a business with potential for growth and innovation” says Andrez adding that the company has a “huge history” behind it. It is a brand known by everyone who buys and has bought toys,” he says.

The closure of stores in the US was the driver for Green Swan to make the acquisition to control Toys R Us on the Iberian peninsula.

“From now on the brand is in our hands and we’ll show customers that we can innovate and bring them a new buying experience” adds Andrez.

The company will bring shops back into city centres like Lisbon and other cities where there isn’t the space for large 3-5,000m2 shopping centre and out-of-town stores.

Paulo Sousa Marques has been appointed the new CEO of Toys R Us Iberia.