Intertoys – Restart and acquisition (financing) by Green Swan PE (Portugal)

Sector(s)
Consumer
Deal type
Buy a business / Debt Advisory / Restructuring
Date
March 2019
Countries involved
Benelux / Portugal

Client

Green Swan is a Portuguese investment group and one of the most prominent players in the European toy retail industry. Green Swan already owns the toy store chains Maxi Toys (170 toy stores in France, Belgium, Luxembourg and Switzerland), Bart Smit (39 stores in Belgium) as well as the Spanish and Portuguese operations of Toys ‘’R’’ Us.

Deal

The Portuguese investment group Green Swan acquired up to half of the 286 stores out of bankruptcy to realize the restart of the Dutch toys store chain Intertoys. Prior to the bankruptcy, Intertoys was owned by the British Alteri Investors.

Parties

Lead team

  • Johan Pardoel

    Johan Pardoel

    Senior Advisor Benelux
  • Bart Jonkman

    Bart Jonkman

    Managing Partner Benelux

What we did

Capitalmind actively supported Green Swan by arranging financing and along the (final stages of the) buy-side process of the Dutch Intertoys stores.

About the deal

Green Swan is a Portuguese investment group. Green Swan already owns the toy store chains Maxi Toys (170 toy stores in France, Belgium, Luxembourg and Switzerland), Bart Smit (39 stores in Belgium) as well as the Spanish and Portuguese operations of Toys ‘’R’’ Us.

Intertoys is a Dutch toy store chain, established in 1976 and previously owned by the British Alteri Investors. Intertoys owns 286 stores, with approximately 3.200 employees and was declared bankrupt in the Netherlands. A further 100 stores are run by Dutch franchisers. The stores are located in the Netherlands, Belgium, and Germany.

With Green Swan’s extensive experience in the space as well as a strong portfolio of proprietary products, they expect to be able to turnaround the chosen Dutch Intertoys stores. The strong (international) presence of Intertoys in geographical areas in which Green Swan has limited to no presence can also provide ample opportunity for internationalisation and cross-selling.

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