The merger will result in a company with a joint turnover that is expected to exceed 700m euros.

Italian toy group Giochi Preziosi has acquired the Spanish toy company from Sun Capital Partners, Inc., which invested in Famosa in 2010.

The two companies will share a complementary product catalogue, comprising Famosa brands such as Pinypon, Nenuco, The Bellies, Nancy, Barriguitas and Feber; and Giochi Preziosi’s brands that include Cicciobello, Gormiti, Trudi and Sevi. Each company’s respective national presence will complement the operation, with Famosa in a prominent position in Spain, Portugal and Mexico and Giochi Preziosi having a strong presence in Italy, France, UK, Greece and Turkey. Both companies will maintain their trademarks while initiating an integration process that is expected to be completed in 2020.

“Joining forces with the industry leader in Italy at a time when Famosa leads in Spain is fantastic news and means we can continue to grow and strengthen our market leading position. As president and CEO of Famosa, I will continue working with my team to ensure the success of the union,” commented Marie-Eve Rougeot, who will remain at the helm with her existing management team.

Enrico Preziosi, founder and president of Giochi Preziosi, added: “We are very excited to bring Famosa on board, just when the company has shown its best results, with important new product launches that have become best- sellers during the last year in Spain. The company’s own brand model, its commitment to innovation and its solid management team are of great value and are all elements that complement Giochi Preziosi’s business.”