Tuesday, June 2, 2009

Toys"R"Us, Inc. Acquires FAO Schwarz

Toys"R"Us, Inc. announced last week that it had acquired the legendary toy store, FAO Schwarz.

"We have enormous respect for the FAO Schwarz brand and for the special place it holds in the hearts of children everywhere," said Jerry Storch, Chairman and CEO, Toys"R"Us, Inc. "Building upon this storied tradition is a responsibility we take very seriously. We will work tirelessly to preserve the distinctiveness and integrity of the FAO Schwarz stores and brand as we grow the business and, indeed, take the brand to even greater heights."

Toys"R"Us, Inc. plans to operate the two FAO Schwarz retail stores located in New York City and Las Vegas. In addition, the company will operate the FAO Schwarz e-commerce and catalog operations under the FAO Schwarz name.

[Read more]