NEWS

Giochi Preziosi finalises details for purchase of Famosa

Published on: 29th May 2019

Reports in the Spanish media suggest that Giochi Preziosi is in negotiations to acquire Famosa, while the company is also said to be planning to go public.

Italian toy manufacturer Giochi Preziosi has been working on an offer to acquire Alicante based toy maker Famosa. Sources close to the negotiation suggest that talks a few months ago did not come to fruition. However, now it looks likely that both parties will reach an agreement, with the deal set to be finalised soon. The management of Famosa is said to have held a meeting with the staff in order to update them on the progress of the negotiations, reporting that they are nearing completion

Giochi Preziosi owns brands such as Dinofroz, Gormiti, Cicciobello, Huntik and Puppy in My Pocket, while Famosa brands include Nancy, Nenuco, Pinypon, Barriguitas and Feber.

Having insisted that the Famosa business was back on track and not for sale only a few months ago, management has recently had a change of heart, despite the fact that CEO Marie-Eve Rougeot has overseen a turnaround plan which is thought to have resulted in an uplift in sales.

Potential new owner Giochi Preziosi is also planning to place between 40 and 45% of its capital on the Milan Stock Exchange. The purchase of Famosa could raise its valuation considerably, initially estimated at around 800m euros.

RECENT ARTICLES

Come in and see me, make me smile…. it’s the Friday Blog!

Amazon Prime Day moved to September

PMI and ViacomCBS partner on charity licensed face masks

Interplay’s Boredom Buster campaign keeps locked-down kids entertained

Trends UK unveils new Nerf Bunkr range

Thames and Kosmos receives Spiel des Jahres nominations

Facebook Shops rollout has been brought forward

Thursday 21st May – Latest toy industry reaction to coronavirus outbreak

Panini reveals UEFA Euro 2020 official Preview Sticker Collection

Smart Toys’ magnetic portfolio expands with two new games