Acquisition of Hamleys

Question: Which of the following company has announced to acquire British Toymaker Hamleys?
(a) Amazon
(b) Softbank
(c) Reliance
(d) Disney
Answer: (c)
Related facts:

  • Reliance Industries announced that it would acquire iconic British toymaker Hamleys for Rs 620 crore in an all-cash deal.
  • It is currently owned by Chinese fashion conglomerate C Banner International. It was acquired for 100 million pounds in 2015.
  • Hamleys, a 259-year-old toy-maker, has struggled to generate profits in recent times. It reported a profit after tax of 2.44 million pounds in 2018 after suffering a loss of 11.24 million pounds in 2017.
  • Hamleys was delisted from the London Stock Exchange (LSE) in 2003 when it was taken over by Icelandic investment firm Baugur Group for USD 68.8 million.
  • Hamleys opened its flagship Regent Street London store in 1881. This flagship store is set over seven floors covering 54,000 sq ft, with over 50,000 lines of toys on sale.
  • It is considered one of London’s prominent tourist attractions, receiving over 5 million visitors each year.

Links:
https://economictimes.indiatimes.com/industry/services/retail/reliance-industries-buys-global-toy-retailer-hamleys/articleshow/69256149.cms
http://ddnews.gov.in/national-international/reliance-acquire-hamleys-rs-620-cr