FAO Schwarz Now Property of Toys-R-Us
May 28, 2009 by Mark Ellis
Filed under Business
High-end toy retailer FAO Schwarz was purchased Wednesday by toy giant Toys-R-Us in a move that marks the second time in the last six years that FAO Schwarz has changed hands. In 2003, firm D.E. Shaw paid more than $41 million to buy out the ailing toy company from bankruptcy. The details of the yesterday’s deal have not yet been released.
Toys-R-Us and FAO Schwarz are owned by three reputable private equity firms: Vornado Realty Trust, Bain Capital, and KKR. Vornado Realty Trust has owned a third of Toys-R-Us since 2005 and joined forces with the other two firms in a …read more
