Toys R Us buys KB's IP
By Staff -- Playthings, 9/4/2009 8:49:00 AM
WAYNE, N.J.—Toys R Us has acquired the intellectual assets of former competitor KB Toys, including its website URL, its trademarks and other intellectual property rights, for an undisclosed sum.
Over the past few months, TRU has secured its place as a dominant force in the toy retailing world most notably through the acquisitions of FAO Schwarz and eToys.com.
"This is an exciting development for our company, and we will be working to determine the role KB Toys will play in our growing portfolio of family-friendly brands over the long term," said a TRU spokesperson. "This acquisition is another example of how we are 'Playing to Win' by aggressively pursuing opportunities to advance our specialist position in the toy and baby other e-commerce sites."
At present, visitors to KBToys.com will be invited to shop Toys.com where they will find exclusive savings and daily deals offered by the chain's other e-commerce sites.
KB Toys' IP assets were sold at auction in early August to CE Stores, an entity described by auctioneer Streambank as "a retail operator" for $2.1 million.
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