Hamleys acquired by French toys giant Ludendo

Groupe Ludendo, which has acquired Hamleys for an undisclosed sum, has more than 300 stores in France, Belgium, Switzerland, Spain and Morocco.

Ludendo chairman Jean-Michel Grunberg said: “Hamleys will give us the platform to accelerate our international development starting with the UK and into new markets.

“We have the utmost respect for the Hamleys brand and heritage, as well as the unique interactive retail environment of fun, entertainment and theatre that it has created. We have every intention of maintaining this unique brand and what it stands for, and building on its successful international development.”

The Hamleys acquisition is part of Ludendo’s strategy to double its store portfolio over the next four years. It plans to acquire well-established brands across the world.

Hamleys chief executive Gudjon Reynisson said: “The management team is very supportive of this transaction and we look forward to becoming part of this well established family business.

“Groupe Ludendo is a strong partner for Hamleys, and we look forward to working with them on taking the fun, entertainment and theatre of Hamleys to new levels. We have big plans for the future and share both Groupe Ludendo´s ambitions for growth and their values.”

Hamleys is the latest asset to be auctioned by nationalised Icelandic bank Landsbanki, which owned 65% of the toy chain, as it seeks to return money to its creditors. Landsbanki took control of Hamleys when the retailler’s majority shareholder, Icelandic investment giant Baugur, went bust in 2009.