International legal practice Osborne Clarke has advised the UK’s largest independent toy retailer, The Entertainer, on its acquisition of the business and assets of Spanish toy retailer, Poly.
Poly was purchased through a competitive bid managed by its administrators and the deal has secured 350 jobs in Spain.
The Osborne Clarke team that advised on the matter was led by Partner Edward Persse in London and Eduard Arruga in Madrid.
Edward commented “We are proud to have advised The Entertainer on its first full acquisition in Europe. Particularly at Christmas, it’s a pleasure to share a good news story in the retail sector. They are an impressive team and I wish them and the Poly management team every success in the years ahead.”
Gary Grant, Founder and Executive Chairman of The Entertainer, comments, “2018 has been an exciting year of growth for The Entertainer in challenging times for retail overall so we are delighted to have acquired Poly with the guidance of Osborne Clarke. Our immediate focus is to work with our suppliers to ensure that all 57 stores are stocked for the remainder of the Festive trading period. This will include the introduction of the full range of products from our sister company Addo, which will offer Spanish consumers excellent quality at affordable prices as we strive to regain the 5% market share that Poly previously had in Spain. We look forward to working with Osborne Clarke again as our expansion plans continue.”