Reliance buys toy-maker Hamleys

Reliance Brands, a subsidiary of Reliance Industries, said on Thursday it will acquire Hamleys Global Holdings Limited, the owner of British toy brand Hamleys, for an undisclosed amount.

Hamleys, owned by Hong Kong-listed C Banner International Holdings, has 167 stores across 18 countries. In India, Reliance has the master franchise for Hamleys and presently operates 88 stores across 29 cities.

The RIL group firm and C Banner International Holdings Thursday signed a definitive agreement for Reliance Brands to acquire 100 per cent shares of Hamleys Global Holdings Limited, Reliance Brands said in a statement. This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry, the company said.