France: Competition Authority gives go-ahead for the takeover of Toys’R’Us’ French subsidiary

The French Competition Authority announced on Friday, April 19, that it has given the go-ahead for the takeover of Toys’R’Us’ French subsidiary by Jellej Jouets,

On November 22, 2018, the company Jellej Jouets (Toys’R’Us brand) notified the Autorité de la concurrence of its planned acquisition of joint control of the company Luderix International (PicWic brand) alongside the undivided ownership resulting from the estate of Mr. Stéphane Mulliez.

By decision of the Commercial Court of Evry of October 2018, Jellej Jouets, controlled by the investment fund Cyrus Capital, had acquired the assets and activities of the French company Toys’R’Us group placed into receivership, notably its 44 stores specializing in toys and its website.

Luderix International specializes in the sector of buying and retail of games and toys and owns 25 Picwic stores as well as a website.

Following the transaction, during which Jellej will contribute its assets to Luderix’s capital, Luderix will operate Toys’R’Us France, Picwic and their websites.

Following an examination of the impact of this transaction on the markets of manufacturing and wholesale marketing of toys and the retail distribution of toys, the Autorité de la concurrence cleared the transaction by considering that it did not raise competition concerns.