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 Post subject: Deal done for TRU
PostPosted: Thu Jul 21, 2005 12:36 pm 
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Daniel Pickett
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Joined: Sun Nov 04, 2007 6:30 pm
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Location: So Cal
Deal done for TRU
From Playthings.com

WAYNE, N.J.—Done.

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.


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PostPosted: Thu Jul 21, 2005 9:13 pm 
You hear that? We're using CODE names...
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I honestly don't see how John Eyler continues to get work in the corporate arena of toy retail. Under his leadership, FAO Schwarz incured more debt and far smaller profits than previous CEO's and he appears to have taken TRU down the same track.

Somehow I think he walked out of this deal smelling like a rose too.


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