Deal done for TRU
The acquisition of Toys “R” Us by an investment consortium consisting of Bain Capital Partners, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust is complete.
Each of the investors owns an equal share of the retailer, which has now become a privately held business. The $6.6 billion buyout includes all of the assets in the worldwide operations of TRU, including the Toys “R” Us and Babies “R” Us businesses. Under the terms of the buyout, John Eyler has departed as CEO and Richard Markee, president of Babies "R" Us, has become interim CEO.
“We are continuing to enhance the strong partnerships with our vendors as Toys “R” Us stores worldwide get ready for the upcoming holiday season, and Babies “R” Us focuses on meeting all the needs of new and expectant parents,” Markee said in a prepared statement.
TRU currently owns and operates 677 Toys “R” stores in the United States and has 620 stores internationally, most of which are franchised. It currently owns and operates 220 Babies “R” Us stores in the United States.