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.