Reliance Will Take Over The Acquisition Of Britain's Toy Company Hamleys, Deal Worth 620 Million Rupees

Reliance Industries' subsidiary Reliance Brands Ltd will acquire UK's toy brand Hamleys Global Holdings Limited for 6.79 crores or about 620 crores. In a statement, the company said that on Thursday, Reliance Brands and C. Banner International Holdings have signed a permanent agreement. Reliance Brands will acquire 100% stake in Hamleys Global Holdings Limited.

Ownership of Hamleys is near the C-Banner International Holdings listed in Hong Kong. It has 167 stores in 18 countries. India has a master franchise of Reliance Hamleys and currently operates 88 stores in 29 cities.

Darshan Mehta, President and Chief Executive Officer (CEO) of Reliance Brands said that with the acquisition of the famous Hamleys brand and business globally, Reliance will be a major player in the global retail toy industry.

He said that personally, this is like a dream come true for me. Mehta said that during the last few years, we have created a remarkable and profitable toy retail business in India under the brand's Hamleys brand. He said that the two hundred and a half-year-old British toy retailer had extended the concept of retail, while only decades after its traditional stores or shops became popular.

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