The Belgian toy store chain, Bart Smit has been acquired by Maxi Toys in a deal that offers salvation for the brand’s remaining 39 shops and the majority of its workforce.
The stores will all be rebranded as Maxi Toys as the retailer looks to strengthen its own brand with locations in areas the company had not yet had operations.
The acquisition has been heralded as a ‘useful and complementary addition to its store network and the strengthening of its brand,’ while for Bart Smit it guarantees the continuity of its stores and the retention of many its current jobs.
Maxi Toys is on a current growth path. The deal is the latest for the brand and follows the recent acquisition of the Spanish and Portuguese branches of the retailer Toys R Us by Maxi Toys’ owner the Portuguese investment fund, Green Swan.
Alain Hellebaut, CEO of Maxi Toys, said: “For the Bart Smit toy stores and employees, for the bart Smit customers and suppliers, and for the Maxi Toys operations, this is a win/win/win.
“Thanks to this takeover, we will be able to achieve national coverage in Belgium and become equally effective in all areas, in FLanders, Wallonia, and Brussels. With a focus on customer experience, toys and multimedia service, innovation and digitisation, we will offer customers an innovative and future-oriented concept.”
Maxi Toys already has stores in Belgium, France, Luxembourg and Switzerland.